USD/CHF to trend higher towards 0.9356/70 on a break above 0.9322/30 – Credit Suisse
|USD/CHF is now at key medium-term resistance at 0.9322/30. Analysts at Credit Suisse expect a short-term pause here, ahead of further medium-term strength.
0.9323/30 remains a key medium-term inflection point
“Given the importance of the 0.9322/30 resistance and the confluence of USD levels across G10 FX, we expect to see a short pause here over the next couple of days. Thereafter though, given the bullish short and medium-term momentum, we expect a break above 0.9322/30 in due course, which would be a very bullish signal in our view to open up 0.9356/70 next.”
“Near-term support stays at 0.9236/32, then, more importantly, the ‘neckline’ to recently completed base at 0.9177/72, which we expect to hold to keep the market on a direct upward trajectory.”
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