USD/CHF needs to hold above 0.9142/33 in order to avoid triggering a small top and open up a move and eventual break above 0.9264/75, the Credit Suisse analyst team reports.
Key support seen at 0.9142/33
“We look to hold above 0.9142/33 and for an eventual close above 0.9264/75 in due course, which would further reinforce the case for a move higher within the 2021 range over the next 1-2 months.”
“The next resistance above 0.9264/75 is seen at 0.9300/05, before the 78.6% retracement at 0.9356. Thereafter, a move to the medium-term downtrend at 0.9417 seems very likely.”
“Near-term support stays at 0.9142/33, which as above ideally holds to keep the risks directly higher. Below here would instead suggest a correction back to the 0.9081/73 200-day average, which we look to hold to keep the 1-month risks higher.”
