Detailed FX Market Outlook and Analysis

USD/CHF Daily Analysis 02-June-2023

USD/CHF Analysis

USD/CHF Update and Intraday Analysis

Our daily analysis reveals a current neutral intraday bias in the USD/CHF pair. A break of the 0.9149 level is expected to ignite a resurgence from the 0.8821 low, aimed at the 38.2% retracement from 1.0149 to 0.8821, situated at 0.9328. Conversely, any break below the 0.9016 level could sway the bias back toward the downside, potentially triggering a retest of the 0.8821 low.

Observing a broader picture, our USD/CHF daily update indicates that the decline from the 1.1049 high points (registered in 2022) is perceived as a leg within the long-term range pattern originating from the 1.0345 high point in 2016. As a result, any downside movement should find a buffer at 0.8759, which could precipitate a reversal. If the 0.9061 support-turned-resistance level is decisively breached, this could signal an early sign of medium-term bottoming. Nonetheless, in our intraday analysis, it’s critical to point out that a decisive break of the 0.8759 level could usher in significantly bearish implications. Therefore, the 0.8759 level remains pivotal in the USD/CHF intraday outlook.

USD/CAD Daily Analysis Summary

To Summarize the daily analysis, the USD/CHF pair exhibits a neutral intraday bias, with a potential rebound from 0.8821 if the 0.9149 level is broken. However, breaking below 0.9016 could trigger a downside retest of the 0.8821 low.

  • So far, the USD/CHF intraday bias is neutral, however, a break of 0.9149 could resume the rebound
  • Breaking below 0.9016 may trigger a retest of 0.8821 low
  • A decisive breach of 0.8759 may signal substantial bearish implications

Latest Analysis