Forex
USD/CHF Enters Range-Trading Phase
USD/CHF has entered a range-trading phase, according to United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann. They expect the pair to trade within a defined range of 0.8155 to 0.8255 over the next one to three weeks.
In their latest analysis, UOB's experts mentioned that prior upside momentum has faded in USD/CHF, leading them to believe that the currency will experience a mild downside bias in the short term.
The analysts are targeting support near 0.8190 and maintaining the current support level at 0.8155 as intact. They also see resistance at 0.8225, followed by 0.8235.