Swiss Franc: Sideways consolidation inside tight band against US Dollar – UOB

UOB’s Quek Ser Leang and Lee Sue Ann describe USD/CHF price action as largely directionless, with the pair closing near 0.8090 after trading in a narrow intraday range. Momentum indicators are flat, and they expect consolidation to persist in the short term between 0.8070 and 0.8105, while over one to three weeks USD/CHF is seen holding a broader 0.8055–0.8155 range.

Dollar Franc remains range bound

"24-HOUR VIEW: Yesterday, we expected USD “to trade in a range between 0.8080 and 0.8125.” While USD subsequently traded within a lower and narrower range of 0.8071/0.8109, it closed largely unchanged at 0.8092 (-0.04%). Momentum indicators are mostly flat, and we continue to expect USD to trade in a range, most likely between 0.8070 and 0.8105."

"1-3 WEEKS VIEW: We continue to hold the same view as yesterday (07 Sep, spot at 0.8100). As highlighted, for the time being, we expect USD to trade in a range between 0.8055 and 0.8155."

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