USD/CHF Forecast 27/10: Trying To Build Floor (Chart)
- The USD/CHF pair remains range-bound as both currencies share safe-haven status. Support holds near 0.79, resistance near 0.80–0.81. The trader favors buying short-term dips, awaiting a breakout above 0.81 for a longer-term bullish move.
If the pair were to break below the 0.79 level, the market could decline further toward 0.78. When trading the Swiss franc, it's essential to monitor its value against the euro, as a sharp drop in the EUR/CHF rate often prompts the Swiss National Bank to intervene. This sensitivity exists because roughly 85% of Switzerland's exports go to the European Union.
EURUSD Chart by TradingViewIf We Finally Break HigherTo the upside, a break above the 0.80 level would open the path to 0.81, and beyond that, it could indicate the beginning of a trend change-something that is expected eventually, though it may take time. For now, the strategy remains to buy short-term dips, take advantage of the positive swap from holding U.S. dollars, and look for a break above 0.81 to initiate a longer-term bullish position for a longer-term move. Eventually, I think we will get there, but patience will be needed.Ready to trade our daily forex forecast? Here are the best online trading platforms in Switzerland to choose from.
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