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Apr 03 - 09:55 AM

BofA: Quant Signals Suggest Bullish Outlook for USD/CHF This Week

By eFXdata  —  Apr 03 - 09:17 AM


Bank of America's quant analysis indicates a bullish sentiment for USD/CHF in the upcoming week, pivoting from a slight pullback due to bullish CHF month-end seasonal flows. The forecast is buoyed by supportive CARS signals, suggesting potential upward movement against key resistance levels identified in both daily and weekly charts.

Key Points:

  • USD/CHF Technical Levels: Resistance levels to watch include the October '23 high of 0.9244 on the daily chart, and 0.9183 on the weekly chart, where the 100-week and 200-week SMAs converge.
  • Potential Risks: A noted decline in USD call option flows suggests a reduced appetite among option investors for chasing a higher USD, presenting a potential risk to the bullish outlook. Additionally, the broad USD rally is nearing overbought territory, as indicated by the breadth of USD/G10 moving averages and the DXY's RSI.


BofA recommends a bullish stance on USD/CHF for the current week, supported by technical analysis and quant signals. However, traders should remain cautious and consider the potential risks highlighted, including declining USD call option flows and the approaching overbought conditions for the broader USD rally.

BofA Global Research


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