Credit Suisse: USDCHF is likely to continue its decline in December

USDCHF broke through the bottom of the key support zone at 0.9355. Credit Suisse analysts expect that the currency pair awaits more decline next month.

They believe that this move together with the DXY breaking its 200-Day Moving Average points to a further gradual decline of the pair next month. 

USDCHF has found support at 0.9325 and 0.9287. The analysts’ forecast shows that USDCHF weakness may solidify below 0.9287 and potential low for the pair will be at 0.9193 at the end of March.

It could then move above the 13-day exponential average at 0.9460, setting the stage for a short-term pause. If the pair is above the recent high at 0.9546, a former correction could be seen.