Forex
Swiss Franc Traders Expect Consolidation in USD/CHF Price Action
The Swiss Franc has been experiencing sideways consolidation in its price action against the US Dollar, according to UOB's Quek Ser Leang and Lee Sue Ann. The pair closed near 0.8090 after trading within a narrow intraday range of 0.8071-0.8109. Momentum indicators are flat, indicating that the currency is holding steady.
The analysts at UOB expect consolidation to persist in the short term between 0.8070 and 0.8105. In the longer term, they see USD/CHF holding a broader range of 0.8055-0.8155 over one to three weeks.