To avoid triggering a tiny top and open up a rise and eventual break over 0.9264/75, the USD/CHF needs to stay above 0.9142/33, according to the Credit Suisse analyst team.
“Over the following 1-2 months, we expect to maintain above 0.9142/33 and eventually close above 0.9264/75, which would strengthen the case for a rise higher inside the 2021 range.”
“Before the 78.6 percent retracement at 0.9356, the next resistance above 0.9264/75 is seen at 0.9300/05. Following that, a move to the medium-term downtrend line around 0.9417 appears to be extremely likely.”
“Near-term support remains at 0.9142/33, which, as previously stated, should hold to maintain risks directly higher. Instead, a drop below this level would signal a return to the 200-day average of 0.9081/73, which we expect to maintain to keep the 1-month risks elevated.”/n
