Swiss Franc: Upside potential against US Dollar despite pullback – UOB
United Overseas Bank’s (UOB) Quek Ser Leang notes USD/CHF closed firmer at 0.8265 after trading in a tight 0.8228–0.8270 band. Intraday, a slight uptick in momentum points to modest gains within 0.8240–0.8285.
United Overseas Bank (UOB) analyst Quek Ser Leang highlights potential upside for the Swiss Franc (CHF) against the US Dollar (USD), despite a recent pullback. As of the 24-hour view, USD/CHF closed at 0.8265, after trading within a tight range of 0.8228-0.8270. Momentum showed a slight uptick, indicating modest gains within the range of 0.8240-0.8285.
However, over a 1-3 week period, UOB remains cautious about a potential decline towards the 0.8200 level, providing that the pair remains below the strong resistance level of 0.8300.
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