EUR/CHF to slump towards 1.0200/1.0160 on a break below 1.0300 – SocGen

EUR/CHF is now challenging the low formed in January at 1.0300. A break under this level would open up additional losses towards 1.0250 and 1.0200/1.0160, economists at Société Générale report.

Reclaiming last week's high of 1.0465 crucial for denoting a short-term bounce

“Daily MACD has been posting positive divergence, however, signals of a meaningful bounce are still lacking.”

“In case the pair establishes itself below 1.0300, the down move could extend further towards next projections at 1.0250 and 1.0200/1.0160.” 

“Reclaiming last week's high of 1.0465 will be essential for denoting a short-term bounce.”