USD/CHF: Only a break below 0.9737 would mark a shift lower – Credit Suisse
|USD/CHF continues to fluctuate in its range. Only a move below 0.9737 would signal further near-term downside and change Credit Suisse’s house view outlook to tactically bearish.
USD/CHF stays seen in a sensitive near-term range
“Further near-term consolidation is likely before making a more significant move higher/lower. Nonetheless, with daily MACD now rolling over, a fall below 0.9737 would still be seen as a signal that further near-term weakness is likely to follow.”
“A move below 0.9737 would shift our outlook to bearish on a near-term tactical basis, whereby we would look for a decline towards the bottom of the broader range, with next support at 0.9557/24.”
“Resistance moves to 0.9888/964, and then to the recent price highs at 0.9943/66, a break above which would instead signal a potential bullish triangle pattern for a move towards 1.0052/98.”
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