- Analytics
- News and Tools
- Market News
- USD/CHF: Break below 0.9876 to raise the prospect of weakness – Credit Suisse
USD/CHF: Break below 0.9876 to raise the prospect of weakness – Credit Suisse
USD/CHF has rejected a major resistance at 1.0074/98. Analysts at Credit Suisse look for the pair to remain capped here for a potential near-term move lower.
Break past 1.0074/98 to clear the way for further gains
“USD/CHF’s surge was capped at the major resistance at the trendline from 2016 at 1.0075. This strong reversal lower paired with daily RSI holding a bearish divergence continues to strengthen the case for a near-term weakness, though with the recent volatility in mind, and with an absence of a more material break lower, we stay near-term neutral for now.”
“Immediate support is seen at the recent low and the 13-day exponential average at 0.9929/13, though only a close below 0.9876 would raise more serious thoughts of the near-term risk shifting lower again.”
“Above the 1.0074/98 major barrier would be seen to clear the way for strength to the highs of 2019 at 1.0226/35.”
© 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
