USD / CHF maintains a bullish continuation pattern and targets the 0.9498 / 9524 neighborhood, says the Credit Suisse team of analysts. They estimate that the pair could rise to 0.9800.
Key statements:
“We keep our bullish bias intact and see resistance initially at 0.9418, the break of which would open the door to 0.9465 / 68, the 61.8% retracement of the decline since March 2020 and the high of mid-July 2020, where we would expect to see a pause at the beginning. Above here, there should be a move back to 0.9498 / 9500, the 50% retracement of the decline since 2019 and a psychological tipping point. “
“In a broader view, we believe that the force can eventually extend towards 0.9800“.
“ESupport is initially seen at 0.9375 / 70, then 0.9350, which we are looking to ideally hold. However, below here the immediate bullish bias of a dip to 0.9223 / 14 would ease, where we would expect containment once again. However, the break here would expose 0.9193 / 90, lower would suggest a much deeper correction. “
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