USD/CHF to accelarate higher on a break above 0.9369 – Credit Suisse

USD/CHF has been incredibly rangebound during Q3. Nevertheless, the pair is likely to embark upon a major bull move during Q4, with a break above 0.9369 needed to confirm, economists at Credit Suisse report.

USD/CHF needs to stay above 0.9011/0.8999 to avoid a turn lower

“USD/CHF is now threatening to break above the confirmed downtrend from 2019 at 0.9356/69, which remains a key medium-term inflection point.” 

“With weekly MACD now accelerating higher, a break above the 0.9356/69 resistance would suggest a more important trending phase is beginning, with scope for 0.9473/97 next, with 0.9672 ultimately viewed as achievable by the end of the quarter.”

“Key supports are seen at 0.9011/8999, below which would actually turn the risks lower, which is not our base case.”