USD/CHF: Next stop on the downside awaits at 0.8910 – Credit Suisse

USD/CHF closed the week below the 200-day average at 0.9084 after a sharp fall on Friday – which turns the bias of analysts at Credit Suisse to the downside, with next support at 0.8910. 

Resistance sits at 0.9084/9102

“The broader downtrend is resuming and we turn our bias to the downside, with the next levels at 0.9000/8995, which is stalling the market this morning, then 0.8922/11, before 0.8871/62, which is an important price low.” 

“With daily MACD accelerating lower and weekly MACD crossing back below MACDA, we would not even rule out a test of the 2021 low at 0.8757” 

“Resistance now moves to the 200-day average at 0.9084/9102, which should now ideally cap to keep the risks directly lower. Above here, the next levels are seen at 0.9165.”