EUR/CHF is edging lower toward the ascending trend line that has guided price action since April, as the pair continues to fluctuate around its 50-day moving average. With resistance at 0.9375 capping upside attempts, a failure to break higher could invite a deeper correction toward 0.9260 or even the lower end of the multi-month range near 0.9210, Société Générale's FX analysts note.
Euro struggles to clear 0.9375 resistance vs. Franc
"EUR/CHF has drifted towards the ascending trend line established since April. The pair has exhibited choppy price action around the 50-day moving average, underscoring the absence of a clear directional bias. The recent pivot high at 0.9375 acts as short-term resistance; failure to break above this level may signal the risk of a deeper pullback."
"If the decline extends, the next support levels are near the August low of 0.9260 and the lower boundary of the multi-month range at 0.9220/0.9210."
