Swiss Franc: Range-bound trading outlook against US Dollar – UOB

United Overseas Bank analysts foresee USD/CHF staying within a narrow band across various timeframes. In the short-term, they anticipate the US Dollar to oscillate between 0.8185 and 0.8230, as the recent downside trend has diminished. Over a one to three-week period, their perspective remains that the pair will consolidate within the range of 0.8155 and 0.8255.

However, over a one to three-month span, there is still potential for a rebound, although it is unlikely to surpass the July high. On the 24-hour outlook, they noted that a slight uptick in downward momentum implies USD may exhibit a downside bias around 0.8190. Moreover, they reiterated that the support level at 0.8155 is not anticipated to be compromised.

Their prediction proved accurate, as USD slipped to 0.8181 and subsequently rebounded to close at 0.8205, marking a minor decline of 0.05%. Presently, they expect USD to trade within the range of 0.8185 and 0.8230. Following a bullish stance on USD since early last week, analysts had previously indicated that momentum had largely waned.

They stated that for now, USD is expected to trade within the range of 0.8155 and 0.8255. Their current outlook remains consistent.