0.8200 in focus as Swiss Franc edges higher against US Dollar – UOB

USD/CHF is expected to trade within 0.8225–0.8260, according to United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann. They see no clear intraday direction, with momentum subdued. Over 1–3 weeks, their bias remains bearish, with a move towards 0.8200 in view and strong resistance held at 0.8275. Their previous 1–3 month outlook envisaged a rebound, though with insufficient momentum to retest the July peak of 0.8206.

0.8200 in view as Swiss Franc maintains modest upside bias

"24-HOUR VIEW: Yesterday, we expected USD “to trade in a range between 0.8225 and 0.8270.” USD traded within a narrower range of 0.8234/0.8263, closing largely unchanged at 0.8244 (-0.02%). The price action provides no fresh clues. Today, USD could trade in a range between 0.8225 and 0.8260."

"1-3 WEEKS VIEW: Last Friday (16 Oct, spot at 0.8280), we highlighted that “downward momentum is building and if USD closes below 0.8245, it could decline toward 0.8225.” After USD subsequently fell to a low of 0.8215, we highlighted on Monday (19 Oct, spot at 0.8240) that USD “could decline further to 0.8200.” We will maintain our view as long as USD holds below 0.8275 (‘strong resistance’ level previously at 0.8290)."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)