Swiss Franc: Gains Against US Dollar Edge Gradually Towards 0.8200 – UOB

USD/CHF remains without a clear intraday direction as subdued momentum points to a 0.8225–0.8260 trading range, according to United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann. Over the next 1–3 weeks, their outlook remains bearish, with 0.8200 in focus and strong resistance maintained at 0.8275. Their previous 1–3 month assessment had envisaged a recovery, though with insufficient momentum to retest the July high of 0.8206.

Can the Swiss Franc maintain its mild upside bias?

"24-HOUR VIEW: Yesterday, we expected USD “to trade in a range between 0.8225 and 0.8270.” USD traded within a narrower range of 0.8234/0.8263, closing largely unchanged at 0.8244 (-0.02%). The price action provides no fresh clues. Today, USD could trade in a range between 0.8225 and 0.8260."

"1-3 WEEKS VIEW: Last Friday (16 Oct, spot at 0.8280), we highlighted that “downward momentum is building and if USD closes below 0.8245, it could decline toward 0.8225.” After USD subsequently fell to a low of 0.8215, we highlighted on Monday (19 Oct, spot at 0.8240) that USD “could decline further to 0.8200.” We will maintain our view as long as USD holds below 0.8275 (‘strong resistance’ level previously at 0.8290)."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)