Analysts at UOB, including Quek Ser Leang and Lee Sue Ann, observe that the USD/CHF pair is currently experiencing subdued price action. They anticipate the pair to remain within a tight intraday range of 0.8310 to 0.8345 today. This assessment aligns with their previous outlook, where USD/CHF traded between 0.8311 and 0.8341 yesterday, providing no new insights.
Looking ahead over a 1-3 week horizon, the strategists reiterate their view that USD/CHF has likely entered a range-trading phase. They expect the pair to stay within a broader range of 0.8245 to 0.8365. Despite the recent quiet trading, they see no reason to adjust this outlook.
From a longer-term perspective of 1-3 months, UOB strategists foresee potential for further rebound in the USD/CHF pair. However, they caution that momentum may be limited, preventing a return to the July peak levels.