EUR/CHF may return to 0.9540 – Société Générale

EUR/CHF made a higher low near 0.9300. The recent pivot low of 0.9380 is near-term support, analysts at Société Générale FX note.

0.9580/0.9600 may be an important resistance area

“EUR/CHF recently made a higher low near 0.9300 than the one reached in August near 0.9210, indicating a pullback in the downward momentum. It has engaged in a short pullback after this test and is looking at the 50-DMA.”

“The recent recent pivot at 0.9380 is short-term support. Defending this may lead to persistence on the move back towards 0.9540 and the August high near 0.9580/0.9600; this could be an important area of ​​resistance.”