Swiss Franc: Range trading persists against US Dollar – UOB

United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann note that USD/CHF remains in a tight range in the short term, with intraday levels clustered around 0.8300. Their 1–3 week view maintains a broader consolidation band, while the 1–3 month outlook suggests the pair could continue rebounding but lacks momentum to revisit its July peak.

UOB keeps consolidation bias for USD/CHF

"24-HOUR VIEW: When USD was at 0.8310 yesterday, we stated that “the current price movements are likely part of a range-trading phase,” and we expected USD “to trade between 0.8290 and 0.8335.” Our view of range-trading was not wrong, though USD traded within a narrower range of 0.8296/0.8326. The price action provides no fresh clues. Today, we expect USD to trade between 0.8305 and 0.8340."

"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.” There is no change in our view. "

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