USD/CHF Faces Resistance at 0.8205, UOB Analysts Warn

UOB analysts Quek Ser Leang and Lee Sue Ann are watching the Swiss Franc (CHF) closely, particularly its performance against the US Dollar (USD). The USD/CHF pair has been trading between 0.8164 and 0.8198, with a major resistance level at 0.8205.

While there is potential for a brief move above 0.8205, UOB analysts believe that a sustained break above this level is uncertain. To confirm their analysis, they are looking for the USD to hold firmly above 0.8205, which would then allow it to target 0.8245.

On the other hand, if the USD breaks below 0.8145 (which UOB analysts refer to as 'strong support'), it would indicate that the recent upside pressure has run its course.