USD/CHF: Next stop on the downside awaits at 0.8910 - Credit Suisse

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10 May 2021

USD/CHF: Next stop on the downside awaits at 0.8910 - Credit Suisse

FXStreet reports that USD/CHF closed the week below the 200-day average at 0.9084 after a sharp fall on Friday – which turns the bias of analysts at Credit Suisse to the downside, with next support at 0.8910.

“The broader downtrend is resuming and we turn our bias to the downside, with the next levels at 0.9000/8995, which is stalling the market this morning, then 0.8922/11, before 0.8871/62, which is an important price low.”

“With daily MACD accelerating lower and weekly MACD crossing back below MACDA, we would not even rule out a test of the 2021 low at 0.8757”

“Resistance now moves to the 200-day average at 0.9084/9102."

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