United Overseas Bank analysts expect the dollar to trade between 0.8200 and 0.8290 Swiss francs over one to three weeks after a rebound above 0.8250 resistance, FXStreet reported Monday.
FXStreet said the pair had fallen to 0.8188 before recovering to 0.8255. The outlet attributed the outlook to Quek Ser Leang, a senior technical strategist and senior vice president, and Sue Ann Lee, an economist and first vice president. Their view shifted from bearish to range-bound after the pair moved above the earlier resistance level.
In their 24-hour outlook, the analysts saw a clear move above 0.8265 as unlikely, FXStreet reported Monday. They identified 0.8235 as support and said a fall below 0.8220 would signal that upward pressure had eased.
USD/CHF shows how many Swiss francs one U.S. dollar buys. FXStreet reported Oct. 22 that UOB had maintained a bearish view, with 0.8200 in sight if the pair stayed below 0.8275. EconoTimes previously covered UOB’s dollar-franc outlook.
