Swiss Franc: Range-bound within 0.8245–0.8365 band against US Dollar – UOB
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann describe USD/CHF as consolidating after failing to extend lower, with Monday’s session confined to a narrow range around 0.8310. Intraday, they expect further sideways trading between nearby support and resistance.
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann have noted that the USD/CHF exchange rate has been trading within a tight range of 0.8245–0.8365 against the US Dollar. Over the past 24 hours, the pair was confined to a narrower band of 0.8275/0.8323, with the current price movements likely part of a range-trading phase.
For the next one to three weeks, UOB has shifted its outlook to a neutral stance, expecting the pair to remain within the broader corridor of 0.8245–0.8365. Longer-term upside for the USD is considered limited. The analysts explain that the USD "has likely entered a range-trading phase between 0.8245 and 0.8365" after briefly dropping below 0.8245 to a low of 0.8225.
Despite the Federal Reserve's potential to hike interest rates this month, geopolitical uncertainties and elevated US bond yields continue to support the US Dollar, keeping it near its year-to-date high.
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