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- USD/CHF: Strong swing higher sees next resistance at 0.9090 - Credit Suisse
USD/CHF: Strong swing higher sees next resistance at 0.9090 - Credit Suisse
FXStreet reports that analysts at Credit Suisse note that USD/CHF saw a strong and unexpected surge higher, breaking above the crucial early February high and the downtrend from early 2020, currently at 0.9036/46 to suggest further short-term upside.
“We shift our immediate bias in favor of further upside, with the first and initial test seen at the 61.8% retracement of the fall from September 2020 at 0.9090. Although we ideally look for this area to cap for a move lower, we see scope for an overshoot back to the 200-day average at 0.9142. We expect a more concerted effort to hold at this point.”
“Support is initially seen at 0.9039, beneath which would see a small intraday top completed to suggest a move back to 0.8975/57 – a cluster of key short-term averages.”
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