Swiss Franc: Remains near recent lows against US Dollar – UOB
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann note that USD/CHF has staged an overdone rally toward 0.8265 and now expect the pair to consolidate between 0.8225 and 0.8275 in the near term.
United Overseas Bank analysts Quek Ser Leang and Lee Sue Ann have observed that the USD/CHF currency pair has reached an overextended level near 0.8265 and now anticipate a consolidation between 0.8225 and 0.8275 over the coming weeks. In the near term, momentum appears strong but may not be enough to propel the pair above 0.8300, with 0.8185 identified as a crucial point of support.
Earlier, they had predicted that USD "could rise above the major resistance at 0.8205," but acknowledged that it may not sustain this level. The rapid upward movement to 0.8265 seems to have been premature, and the pair is unlikely to surge much further. Today, USD is more expected to stay within the 0.8225-0.8275 range.
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