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May 04 - 09:55 AM

USD/CHF: Staying Bullish; A Break Above 0.9196 To Confirm Resumption Of Uptrend - Credit Suisse

By eFXdata  —  May 04 - 08:40 AM

Credit Suisse discusses USD/CHF technical outlook and adopts a bullish bias in the near-term.

"We stay bullish, with a break above the .9196 resistance needed to confirm an important low is in place for a resumption of the uptrend, with the next resistance at .9246. Our broader bullish view is based on the fact that trend following indicators such as moving averages maintain a bullish “golden cross”, with weekly MACD also staying outright bullish," CS notes. 

"In contrast, a closing break below .9088/80 would turn our bias lower and suggest the broader downtrend is still intact, with the next levels at .9031/27, then .8922/11, before .8871/62," CS adds. 

Source:
Credit Suisse Research/Market Commentary

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