USD / CHF closed above the key 200-day average, currently 0.9130, suggesting further strength ahead, with resistance seen below at 0.9192 / 9208, as assessed by analysts at Credit Suisse.
Key statements:
“We shifted our immediate bias to higher, with a margin to 0.9192 / 9208, the group comprised of key November highs and the 38.2% retracement of the 2020 dip, where we would expect to see another attempt at a top.
“Above 0.9208, in due course, however, would suggest a much deeper correction to the upside, with resistance initially seen thereafter at 0.9229, and then more importantly at 0.9296 / 9302.”
“We see support at 0.9120 / 25, which should now ideally hold to maintain the bullish bias. The next support is seen at 0.9042, below which it would instead shift short-term risks to the downside and see a move back to the 21-day exponential average and the psychological inflection point at 0.9008 / 00 a continuation.”
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