EUR/CHF: Failure to defend 1.0325/1.0310 to trigger another fall towards 1.0225/1.0210 – SocGen

EUR/CHF is now back at the December low near 1.0325/1.0310 – removal of which can trigger a dive towards the 1.0225/1.0210 area, economists at Société Générale report.

Break above 1.0450 needed to affirm a meaningful bounce

“Daily MACD is still in negative territory which denotes upside momentum is lacking.”

“The pair has to cross above 1.0450, the 61.8% retracement of recent down move to affirm a meaningful bounce.”

“Failure to defend 1.0325/1.0310 can lead to next leg of decline towards projections of 1.0275 and 1.0225/1.0210.”