USD/CHF strength ideally gets capped at the falling 13-day exponential average, currently seen at 0.8705, analysts at Credit Suisse report.
A close above 0.8705 would suggest a deeper but still corrective rally can emerge
We look for a test of resistance from the falling 13-day exponential average, now seen placed at 0.8705. Our bias is to look for this to ideally cap on a closing basis and for the risk to turn lower again.
Support is seen at 0.8648/43 initially, beneath which should ease the immediate upside bias for support next at 0.8614 ahead of the lows from last week at 0.8560/55. Beneath here in due course should see a test of price and Fibonacci support at 0.8522/02, which we would look to try and hold at first.
A close above 0.8705 would suggest a deeper but still corrective rally can emerge for a test of 0.8763/0.8780, but with fresh sellers expected to show here.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Automotive / EVs, Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- BlockOffsets. Modernizing Environmental Offset Ownership. Access Here.
- Source: https://www.fxstreet.com/news/usd-chf-resistance-at-08705-to-cap-on-a-closing-basis-with-initial-support-seen-at-08648-43-credit-suisse-202307241323
- :is
- 10
- 7
- 8
- a
- above
- again
- ahead
- Analysts
- and
- At
- average
- basis
- bias
- but
- CAN
- cap
- Close
- closing
- course
- credit
- credit suisse
- Credit Suisse report
- Currently
- deeper
- due
- ease
- emerge
- expected
- exponential
- Falling
- Fibonacci
- First
- For
- fresh
- from
- here
- hold
- HTTPS
- ideally
- immediate
- in
- initial
- initially
- jpg
- Last
- Look
- lower
- Lows
- next
- now
- of
- on
- our
- plato
- Plato Data Intelligence
- PlatoData
- price
- rally
- report
- Resistance
- Risk
- see
- seen
- Sellers
- should
- show
- Still
- strength
- suggest
- Suisse
- support
- test
- The
- this
- to
- try
- TURN
- Upside
- USD/CHF
- we
- week
- which
- with
- would
- zephyrnet