Swiss Franc: Sideways consolidation inside tight band against US Dollar – UOB
UOB’s Quek Ser Leang and Lee Sue Ann describe USD/CHF price action as largely directionless, with the pair closing near 0.8090 after trading in a narrow intraday range.
UOB analysts describe USD/CHF price action as directionless, with the pair trading within a narrow range. After closing near 0.8090, they anticipate the pair to remain in a consolidation phase between 0.8070 and 0.8105 for the short term. Over a period of one to three weeks, they expect USD/CHF to hold within a broader range of 0.8055-0.8155.
Yesterday, UOB forecasted USD to trade in a range between 0.8080 and 0.8125, but it ultimately stayed within a narrower range of 0.8071-0.8109, closing unchanged at 0.8092 (-0.04%). Momentum indicators remain mostly flat, and UOB continues to expect USD to trade within a range, most likely between 0.8070 and 0.8105.
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