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USD/CHF seen trading in tight range near 0.8185 to 0.8230

UOB analysts said the prior downside bias has faded, with USD/CHF expected to hold its intraday range while the broader 1-to-3-week outlook points to consolidation between 0.8155 and 0.8255.

Reported · Written up by our desk · Major Pairs

FXStreet, citing a note from United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann, said USD/CHF is expected to remain range-bound across timeframes.

For the intraday outlook, the analysts forecast the US dollar to hold between 0.8185 and 0.8230, noting that the prior downside momentum has eased.

Over the next 1 to 3 weeks, they expect consolidation between 0.8155 and 0.8255, while their 1 to 3 month view allows for a rebound but not a retest of the July peak.

UOB also pointed to Monday price action, when USD dipped to 0.8181 before rebounding to close little changed at 0.8205, reinforcing their view that the downside bias has faded.

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