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EUR/CHF breaks 2024 lows as downtrend deepens – Société Générale

EUR/CHF has slipped below its 2024 and October lows after failing at the 0.93 trend-line resistance, with bearish momentum suggesting the downtrend may extend toward 0.9170/0.9160 and potentially 0.9100, Société Générale's FX analysts note.

EUR/CHF rejection at 0.93 signals further losses

"EUR/CHF encountered strong resistance near a multi-month descending trend line at 0.9330 earlier this month (now at 0.9300) resulting in a sharp decline. It has breached the lows of 2024 and October."

"Daily MACD remains anchored within negative territory highlighting prevalence of downward momentum. The phase of downtrend could extend towards next projections at 0.9170/0.9160 and 0.9100. The trend line near 0.9300 may cap short-term upside."

IEA continues to see very well-supplied Oil market – ING

Oil prices moved higher yesterday, settling just shy of 0.5% higher, despite a bearish weekly Energy Information Administration (EIA) inventory report.
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EUR/USD: Next resistance at 1.1685 is unlikely to come under threat – UOB Group

There is scope for Euro (EUR) to test the 1.1655 level again; the next resistance at 1.1685 is unlikely to come under threat.
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