- Analytics
- News and Tools
- Market News
- USD/CHF: Break above 0.9049/55 to confirm a base for a move to the 200-DMA at 0.9072 - Credit Suisse
USD/CHF: Break above 0.9049/55 to confirm a base for a move to the 200-DMA at 0.9072 - Credit Suisse
FXStreet reports that USD/CHF posted a small bullish “hammer” yesterday from the range lows at 0.8930/25. However, analysts at Credit Suisse suggest that only a move above 0.9049/55 would complete a base.
“USD/CHF fell to the bottom of the range at 0.8930/25 yesterday, before reversing higher to post a small bullish ‘hammer’, with a growing RSI divergence and daily MACD cross still in place. We, therefore, stay biased towards a move higher, with first resistance at 0.9012, then 0.9048/55, above which confirm a base and open up a move back to the 200-day average at 0.9072, then 0.9098.”
“The 0.9072, then 0.9098 levels need to cap to keep the broader, medium-term risks lower in our view, however, it’s worth noting that the potential ‘measured base objective’ projects a move well beyond here.”
“Our broader bias stays lower whilst below 0.9072/98 and our base case is still that the market will find a cap here and turn back lower."
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
