VOT Research Desk

Key resistance for the USDCHF was rebuffed at 1.0071. Credit Suisse analysts observe indicators of increasing downward pressure.

We believe that there is increasing downward pressure.

A closing below these levels would be regarded to initiate a bearish double top,likely clearing the way to 0.9737 next and maybe towards the 200-day mark at 0.9616. Key support is identified around the 55-day average and the most recent price low at 0.9840/38.

Thoughts of a movement lower within the range would be refuted by a prolonged rise over 1.0071/1.0148, which would instead point to a stronger rebound toward 1.0235.

Oct 17, 2022

VOT Research Desk

The USD/CHF exchange rate is under pressure at 1.0030 and recorded its first daily loss in four days on Monday during the Asian session. As a result the Swiss franc (CHF) pair retreats from the 1.0050 resistance confluence which also includes the 50-SMA, an immediate declining resistance line from Friday and an upward-sloping support line.

The USD/CHF prices are anticipated to continue their recent decline towards the psychological support level of 1.0000 given the negative MACD indications. However, the pair’s potential decline may be constrained by a nearby horizontal support region at 0.9980.

If the USD/CHF pair continues to decline past 0.9980, September’s top at 0.9910 may present a challenge to the bears. On the other hand, recovery moves require a clean breach of the 1.0050 barrier to entice buyers.

After that, the bulls can be entertained by the monthly high around 1.0075 and the round number 1.0100 before indicating the 2019 peak near 1.0240.

Overall, the USD/CHF is expected to continue to decline, but the favorable trend may not change too quickly.

Sep 27, 2022, 09:00PM+7:00

VOT Research Desk

Analytical Viewpoint USD/CHF

Daily Pivots: (S1) 0.9832; (P) 0.9899; (R1) 1.0006; 

A temporary peak created at 0.9964 has neutralized the intraday bias for USD/CHF. There were some consolidations to be noted.

But 4 hour 55 EMA should restrain the downside (now at 0.9755). 1.0063 high will be the aim on a break of 0.9964.

 A clear break there will signal the continuation of the larger upward trend.

In the big picture, the present development indicates that the upward trend from the low of 0.8756 in 2021 is still ongoing.

Targets for a sustained breach of 1.0063 are 1.0342 and the 100% prediction of 0.9149 to 1.0063 from 0.9369 at 1.0283. (2016 high).

As long as the 0.9369 support holds, this will continue to be the preferred scenario even in the event of a significant pullback.

Sep 26, 2022, 07:40PM+7:00

VOT Research Desk

Analytical Viewpoint USD/CHF

Daily Pivots: (S1) 0.9768; (P) 0.9804; (R1) 0.9854;

The USD/CHF intraday bias is still positive for a retest of the 1.0063 high. A clear break there will signal the continuation of the larger upward trend.

Below the weak support level of 0.9754, the intraday bias will become neutral and consolidations will occur before staging another rebound.

In the big picture, the present development indicates that the upward trend from the low of 0.8756 in 2021 is still ongoing.

Targets for a sustained breach of 1.0063 are 1.0342 and the 100% prediction of 0.9149 to 1.0063 from 0.9369 at 1.0283. (2016 high).

As long as the 0.9369 support holds, this will continue to be the preferred scenario even in the event of a significant pullback.