FXStreet reports that according to economists at Credit Suisse, USD/CHF is still likely to see a deeper move higher over the next couple of months.

“We stay biased towards a direct move to the confirmed downtrend at 0.9417/73, which remains a key medium-term inflection point.” 

“Longer term, the market is repeatedly breaking below flat averages and weekly MACD is oscillating around zero, signaling that the market is clearly in a broad range bound phase for now. If the broader USD bases out though, we would expect a trending phase and break above 0.9417/73 and would resultantly raise our core objective up to 0.9672.”