The French CAC 40 started September under pressure after a strong August movement.
The index has already retreated from its all-time high around8755 pointsreached on August 7, and is now trading well below 8,400.
Against this background, the main question for the trader iswhere to look for the next buyer reaction?
Key CAC levels 40
Three zones are highlighted on the graph:
8290 — first support.
The nearest area from which recovery can begin.
8271 is the second zone.
Deeper pullback and potentially more interesting point to buy.
8252 is a key support.
Its retention preserves the chances of continuing the upward scenario.
CAC 40, H1 Key Support Areas to Search for Purchases as of September 1, 2026.
Macro remains challenging
The main risk for French stocks now is the combination ofexpensive energy, inflation and rising bond yields.
Eurozone inflation accelerated in August to3,3%against 2.9% a month earlier. The main contribution was made by energy carriers. The market expects the ECB rate to rise by 25bps in September.
At the same time, the economy also gives a positive signal.
The Eurozone Industrial PMI has risen to52,7— maximum in more than four years. The French PMI also returned above 50, before51,1, although new orders remain weak.
It turns out to be a contradictory picture:the economy is starting to recover, but the ECB is forced to remain tight.
What this means for CAC 40
As long as the index holds the area8290–8252, kickbacks can be seen as areas to look for buyer reaction.
The main risk is further growth in yields and oil. Today, French 30-year yields are at their highest since 2008, raising the pressure on stock valuations.
Main conclusion:CAC 40 remains interesting to buy on the downside, but it is less attractive to enter directly at current levels. The main areas are8290 / 8271 / 8252.
