Forex
UOB Sees Mild Downside Bias for USD/CHF
Swiss Franc (CHF) traders are bracing for a mild downside bias against the US Dollar (USD), according to United Overseas Bank (UOB) analysts. Quek Ser Leang and Lee Sue Ann see USD/CHF trading with a slight negative momentum, targeting support near 0.8190.
The pair closed lower by 0.11% at 0.8209 on the previous day, with resistance levels at 0.8225 and 0.8235. The analysts expect the USD to hold above 0.8155, which is considered a strong support level.
In their one- to three-week outlook, UOB expects USD/CHF to remain within a defined range of 0.8155 and 0.8255. They believe that prior upside momentum has faded, contributing to the downward bias.