(09 OCTOBER 2017)USD / CHF:Strong bounce within uptrend channel.

(09 OCTOBER 2017)USD / CHF:Strong bounce within uptrend channel.

9 October 2017, 13:44
Jiming Huang
0
17

chf


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.

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