EUR/CHF: A short-term rebound is likely

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EUR/CHF has been trading sideways since August near the bottom of the 0.9516-0.9650 range.

The EUR/CHF decline has stalled after reaching intermittent forecast values around 0.9515. The pair has been trading sideways since late July and is trading near the 50-DMA. Short-term upside is not ruled out, but the March lows around 0.9700 could still be a significant hurdle.

If the pair fails to hold 0.9515, expect the pair to resume its downward phase. Next potential support is located at 0.9455 and the 2022 low at 0.9410.