Oct 06, 2022
VOT Research Desk
The USD/CHF rate remains erratic within its range. Credit Suisse’s house view forecast would only become strategically negative with a decline below 0.9737, signaling additional near-term weakness.
Before making a more major move higher or lower, more near-term consolidation is anticipated.
However, as the daily MACD is now rolling over, a decline below 0.9737 would still be seen as an indication of impending more near-term weakness.
“A fall below 0.9737 would change our perspective from bullish to negative on a very near-term basis. We would then look for a slide toward the bottom of the larger range, with the next support level around 0.9557/24.
USD/CHF Technical Analysis Report
Resistance rises to the recent market highs around 0.9943/66, and then goes to 0.9888/964, where a break above would suggest the possibility of a bullish triangle formation for a climb into 1.0052/98.
