Swiss Franc: Range trading persists against US Dollar – UOB

United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann note that USD/CHF remains locked in a tight range, with intraday expectations between 0.8315 and 0.8350. For the 1–3 weeks horizon, they see the Dollar trading within 0.8295/0.8365, citing tentative momentum. Over 1–3 months, they expect further rebound but not enough strength to revisit the July peak.

Dollar seen confined to tight ranges

"24-HOUR VIEW: After USD rose to a high of 0.8350 two days ago, we highlighted yesterday that “the sharp rise appears to be excessive, and USD is unlikely to rise much further.” We expected USD “to trade in a higher range of 0.8320/0.8355.” USD subsequently traded between 0.8311 and 0.8348, closing 0.25% lower at 0.8323. The current price movements appear to be part of an ongoing range-trading phase. Today, we expect USD to trade between 0.8315 and 0.8350."

"Last Friday (02 Oct, spot at 0.8310), we indicated that USD “has likely entered a range-trading phase 0.8245 and 0.8365.” Yesterday (13 Oct, spot at 0.8345), we highlighted that “we continue to expect range-trading but now expect a narrower range of 0.8295/0.8365.” There is no change in our view."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)