EUR/CHF to head higher towards 1.0130 and projections of 1.0240/1.0260 – SocGen

EUR/CHF has broken out above the sideways range since October affirming extension in up move. Economists at Société Générale expect the pair to extend its advance.

0.9970/0.9950 to be important support near term

“The pair is expected to head higher gradually towards 1.0130 and projections of 1.0240/1.0260; this could be an interim resistance zone.”

“Upper end of previous consolidation zone and the 200-Day Moving Average at 0.9970/0.9950 is likely to be an important support near term.”

See: EUR/CHF could extend its advance back to levels between 1.02 and 1.04 – MUFG