EUR/CHF set to challenge the 200-DMA at 1.07 – SocGen

EUR/CHF has rebounded sharply from the low of 1.0300. The pair is expected to test the 200-day moving average (DMA) located at 1.0700, economists Société Générale report.

Downside limited while above 1.0420

“Holding above the daily Ichimoku cloud at 1.0420, the bounce could persist.” 

“Next potential resistance is located at the 200-DMA near 1.0700.”

See: EUR/CHF to enjoy substantial gains on a diplomatic solution in Ukraine – MUFG