The USD/CHF pair has held below resistance at 0.8918/20 as expected, with further ranging expected, the Credit Suisse analyst team reports. Key quotes “USD/CHF was capped yesterday below 0.8918/20 as expected, however, the risk of a base and a deeper setback is growing. Nevertheless, we stick with our base case that this level will hold and the core bear trend to take over again post further sideways ranging, in line with the very large top from 2020 that remains in place.” “We see support initially at 0.8850/40, then 0.8723/21, ahead of the recent low at 0.8758. Removal of here would reassert the core bear trend and open the door to a move to a major psychological barrier at 0.8703/8699.” “The December highs at 0.8918/20 remain crucial as a break would see a small intraday ‘head and shoulders’ base completed to open up further upside, with the next level at the 55-day average at 0.8974/83, then 0.9027/28.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin drops towards $34,000 after ECB’s Lagarde calls it a speculative asset FX Street 2 years The USD/CHF pair has held below resistance at 0.8918/20 as expected, with further ranging expected, the Credit Suisse analyst team reports. Key quotes “USD/CHF was capped yesterday below 0.8918/20 as expected, however, the risk of a base and a deeper setback is growing. Nevertheless, we stick with our base case that this level will hold and the core bear trend to take over again post further sideways ranging, in line with the very large top from 2020 that remains in place.” “We see support initially at 0.8850/40, then 0.8723/21, ahead of the recent low at 0.8758. Removal of here would… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
