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Ultimately, the market should continue to see a certain amount of interest in the area underneath, especially if we get closer to the 0.90 level. In fact, it looks as if it is a support zone that extends from 0.90 all the way up to the 0.91 level.The 50-Day EMA is presently at the 0.93 level, so that should be thought of as potential resistance, and therefore it’s likely that any move towards that area could run into significant resistance. Above there, we have the 200-Day EMA which sits just above the 0.94 level as well. However, we could see a significant shift in attitude if we continue to see problems with the Swiss banking sector.
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