• USD/CHF: A broader upmove is starting, next resistance at 0.9264/75 - Credit Suisse

Market news

10 August 2021

USD/CHF: A broader upmove is starting, next resistance at 0.9264/75 - Credit Suisse

FXStreet reports that the Credit Suisse analyst team believes that USD/CHF has now broken above its downtrend from April at 0.9197, which suggests a broader upmove is starting.

“USD/CHF has now broken above the downtrend from April, today seen at 0.9197, reinforced by a renewed turn higher in daily MACD. The breakout suggests a broader move higher can take place for a move back to 0.9264/75, the July highs and the 61.8% retracement of the April/June fall.”

“Whilst the 0.9264/75 zone is likely to prove a tough barrier again, a break would open up a move to our prior Q3 objective at 0.9356/85, which is the downtrend from 2019.” 

“The pair should now ideally hold onto its break above 0.9197/93 to keep a clean break higher.”

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.