EUR/CHF could test last year’s low of 0.94 on failure to defend 0.9515 – SocGen

EUR/CHF has experienced a gradual decline after the retest of a multi-year trend line in June. Economists at Société Générale analyze the pair’s outlook.

0.9600 must be overcome to affirm a meaningful up-move

EUR/CHF has drifted towards projections of 0.9515 which could be an interim support. An initial bounce can’t be ruled out however high achieved earlier this week near 0.9600 must be overcome to affirm a meaningful up-move. 

Failure to defend 0.9515 can extend the down move towards 0.9455 and perhaps even towards last year’s low at 0.9400.