USD/CHF stays seen on course for further weakness to 0.8522/02 – Credit Suisse

USD/CHF has removed with ease the 2021 low. Analysts at Credit Suisse look for further weakness to 0.8522/02.

Resistance at 0.8780 ideally capping on a closing basis

Support is seen initially at 0.8566 ahead of price, trend and Fibonacci support at 0.8522/02, which we would look to try and hold at first. A direct break though can see support next at 0.8459, then 0.8400 and eventually what we would look ideally be better support at 0.8352/50.

Resistance is seen at 0.8617 initially, then 0.8671, with the 13-day exponential average at 0.8780 ideally capping on a closing basis to keep the immediate risk lower.