Strong bounce within uptrend channel.
(By Yann Quelenn)
• USD/CHF is trading higher within short-term
uptrend channel. Demand has been increasing
since September. Closest resistance is given at
0.9808 (30/05/2017 high). There are nonetheless
decent downside risks. Strong support is given
at 0.9421 (03/05/2017). Expected to show
continued bullish pressures.
• In the long-term, the pair is still trading in
range since 2011 despite some turmoil when the
SNB unpegged the CHF. Key support can be
found 0.8986 (30/01/2015 low). The technical
structure favours nonetheless a long term bullish
bias since the unpeg in January 2015.