USD/CHF Traders Face Range-bound Trading Outlook

According to United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann, the Swiss Franc against the US Dollar is expected to remain range-bound across various timeframes. Intraday, they predict that USD/CHF will trade between 0.8185 and 0.8230, as the prior downside momentum has faded.

The analysts' view remains unchanged for the 1-3 week outlook, expecting consolidation within a defined band of 0.8155 to 0.8255. Over a longer period, 1-3 months, they still see scope for a rebound but not a retest of the July peak.

The analysts' initial prediction from Monday's price action was that USD/CHF would trade with a downside bias towards 0.8190 due to increased downward momentum. However, this bias has since faded, and today's expected range is between 0.8185 and 0.8230.