Swiss Franc: Consolidation holds below 0.8300 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang notes USD/CHF remains in a consolidation phase after a sharp rally, with intraday trading expected between 0.8225 and 0.8265.
UOB's Quek Ser Leang reports that USD/CHF is currently experiencing a consolidation phase between 0.8225 and 0.8265 after a sharp rally. He remains optimistic in the short-term but cautions that a break above 0.8300 is premature, while a drop below 0.8185 would negate this view. Yesterday, it was noted that the sharp rally may have been overdone, and USD is unlikely to rise further.
Instead, USD is expected to consolidate within the 0.8220/0.8262 range, closing slightly lower at 0.8243. Today, USD is anticipated to trade between 0.8225 and 0.8265.
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