EUR/CHF to see a rebound towards 1.0840 as the 1.0700 August low holds – SocGen

EUR/CHF has retracted all the gains since August. As the pair has held the initial test of the August low at 1.0700, economists at Société Générale expect to see a bounce towards the 1.0840 mark.

Erosion of 1.0700 to trigger a decline towards the 1.0630 November 2020

“Defending the low at 1.0700 can result in a bounce, however, 50-DMA at 1.0840 could contain.” 

“Violation of 1.0700 can result in persistence of the decline towards the November 2020 low of 1.0630.”