USD/CHF to see a deeper move higher over the next couple of months – Credit Suisse
|USD/CHF is still likely to see a deeper move higher over the next couple of months. But unless the broader USD bases out, this will still be viewed as a move higher within a broader range, according to economists at Credit Suisse.
Break below 0.9142/33 to trigger a correction back to 0.9081/55
“We stay biased towards a direct move to the confirmed downtrend at 0.9417/73, which remains a key medium-term inflection point.”
“Longer term, the market is repeatedly breaking below flat averages and weekly MACD is oscillating around zero, signaling that the market is clearly in a broad range bound phase for now. If the broader USD bases out though, we would expect a trending phase and break above 0.9417/73 and would resultantly raise our core objective up to 0.9672.”
“A break below 0.9142/33 would trigger a short-term correction back to 0.9081/55. Only below here would remove the near-term upside risks, with next support back 0.8925.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.