Swiss Franc: Range trading holds for now against US Dollar – UOB

UOB strategists Quek Ser Leang and Lee Sue Ann note that USD/CHF price action has been quiet, with the pair expected to stay confined intraday between 0.8310 and 0.8345. Over a 1–3 week horizon, they reiterate that USD/CHF has likely entered a range-trading phase between 0.8245 and 0.8365. On a 1–3 month view, they see scope for further rebound but limited momentum to revisit the July peak.

Dollar-Swiss seen in tight ranges

"24-HOUR VIEW: We expected USD “to trade between 0.8305 and 0.8340” yesterday. USD then traded within a range of 0.8311/0.8341. The price action provides no fresh clues. Today, USD could trade between 0.8310 and 0.8345."

"1-3 WEEKS VIEW: In our most recent narrative from last Friday (02 Oct, spot at 0.8310), we highlighted that USD “has likely entered a range-trading phase between 0.8245 and 0.8365.” Although USD traded in a relatively quiet manner over the past couple of days, we will maintain our view for now."

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