Talking Points:
- USD/CHF Technical Strategy: Flat
- Support:0.9428, 0.9213, 0.8997
- Resistance: 0.9746, 0.9910, 1.0177
The US dollar is attempting to launch a recovery after finding support below the 0.95 figure against the Swiss franc. Near-term resistance is at 0.9746, the 14.6% Fibonacci expansion, with a break above that on a daily closing basis exposing the 23.6% level at 0.9910. Alternatively, a reversal below the 38.2% Fib retracement at 0.9428 clears the way for a challenge of the 50% threshold at 0.9213.
Positioning is inconclusive at this point, with prices offering no clear-cut and actionable signal to initiate a long or short trade. We will continue to remain on the sidelines for the time being, waiting for a compelling opportunity to present itself.