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UOB’s Quek Ser Leang and Lee Sue Ann keep a range-trading view on USD/CHF around 0.8100, after the pair held between 0.8065 and 0.8109 and closed near 0.8099. They now expect a slightly narrower 0.8060–0.8135 band to contain moves in the coming weeks. On a 1–3 month horizon, they see scope for further rebound but doubt a retest of the July peak at 0.8206.
Swiss Franc pair seen confined in band
“24-HOUR VIEW: Following Tuesday’s price action, we highlighted yesterday that “there has been no shift in either downward or upward momentum, and the current price movements are likely part of a range-trading phase between 0.8075 and 0.8115.” USD then traded within a lower range of 0.8065/0.8109 before closing little changed at 0.8099 (+0.06%). We are unable to derive much from the price action. Today, USD could trade between 0.8075 and 0.8115.”
“1-3 WEEKS VIEW: In our most recent narrative from Monday (07 Sep, spot at 0.8100), we highlighted that, for the time being, we expect USD to trade in a range between 0.8055 and 0.8155. We continue to expect range-trading, but a narrower range of 0.8060/0.8135 is likely enough to contain the price movements in USD for now.”
