The EUR/CHF is testing a critical support level at 0.9210 after losing the 200 -day DMA earlier this month. A sustained rupture could open the door to deeper descents towards 0.9155 and 0.9050/0.9025, while the resistance looms near the 200 -day DMA at 0.9410/0.9430, the FX analysts of FX de Société Générale point out.
A break below the range could trigger more losses
“The EUR/CHF resigned from the 200 -day DMA earlier this month, which resulted in a rapid decrease. It is probing the lower limit of the range within which it has evolved since last August at 0.9210. This is a crucial support.”
“If the torque is established below 0.9210, the downward trend phase could extend to the next projections in 0.9155 and 0.9050/0.9025. The 200 -day DMA in 0.9410/0.9430 is likely to be a short -term resistance zone.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
