EUR/CHF to enjoy significant gains on a break above 1.0470 – SocGen

EUR/CHF is steady at 1.0370. The pair must overcome the 1.0470 mark to stage a meaningful rebound, according to economists at Société Générale.

Failure at 1.0470 to put 1.0260 and 1.0225/10 back in the spotlight

“The pair is now attempting a move beyond a multi-month descending trend line. This could lead to a short-term up move however daily Ichimoku cloud at 1.0470 could provide resistance. This must be overcome for a meaningful rebound.” 

“Failure to cross 1.0470 would mean continuation in downtrend towards next projections at 1.0260 and 1.0225/1.0210.”