EUR/CHF: Bullish momentum intact – SocGen

Market news

4 March 2024

EUR/CHF: Bullish momentum intact – SocGen

Economists at Société Générale note that the EUR/CHF pair retains bullish momentum after Swiss inflation data came below forecast.

Last week’s low of 0.9500/0.9470 is an important support near term

Another downward surprise for Switzerland's CPI today for February will amp up expectations of a rate cut by the SNB this month. President Jordan who announced last week he will step down in September, said the policy target has been reached.

Upward momentum in EUR/CHF is intact.

Daily MACD has entered positive territory highlighting prevalence of upward momentum.

Last week’s low of 0.9500/0.9470 is an important support near term; defence of this zone could lead to persistence in up move.

Beyond 0.9610, next objectives could be located at last September/November highs of 0.9680 and 0.9775.

UK: A moderately-sized tax relief package can give some support to GBP this week – ING

Eurozone Sentix Investor Confidence Index rises to -10.5 in March vs. -12.9 previous

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