EUR/CHF to slump under 1.0700 on a break below the 1.0730 support - Societe Generale

Market news

2 August 2021

EUR/CHF to slump under 1.0700 on a break below the 1.0730 support - Societe Generale

FXStreet notes that EUR/CHF has broken below a multi-month ascending trend line resulting in a steady downtrend. As analysts at Société Générale suggest, the pair could slide below the 1.0700 level on a loss of the 1.0730 support.

"EUR/CHF is reaching potential support of 1.0730 representing lows of December 2020 and January 2021."

"An initial bounce is likely towards 1.0810."

"Failure to hold above 1.0730 will mean further decline towards 1.0700 and 1.0640, the 78.6% retracement from April 2020."

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