#EURCHF @ 0.97910 : Defending 0.9640/0.9610 is essential for persistence in bounce – SocGen
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EUR/CHF has staged a steady rebound after forming a significant low near 0.9410 in September. The pair could extend its bounce while holding above the 0.9640/10 region, economists at Société Générale report.
“Tightening of 10-year BTP/ Bund spread to 189 bps, lowest since July, supports higher EUR/CHF.”
“Daily MACD is anchored within a positive territory which denotes prevalence of upward momentum.”
“Defending daily Ichimoku cloud at 0.9640/0.9610 is essential for persistence in bounce.”
“Short-term hurdles are at 200-DMA near 0.9970/1.0010.”
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