Analysts: bullish on USD/CHF
Analysts at major banks remain bullish on USD/CHF despite the recent sharp fall on dovish Fed.
Nomura strategists recommend buying USD/CHF at 0.9332 with a target at 1.0000 and a stop at 0.9100. They expect a broad-based cyclical USD rally in the second half of 2013.
Analysts at Deutsche Bank are also targeting 1.0000 by the year-end: “With our confidence on the dollar outlook building and no change from the SNB on the back of a very benign inflation outlook, we see conditions as ripe for a breakout in both USD/CHF and EUR/CHF targeting 1.0000 and 1.2700 respectively over the rest of the year”. Barclays goes even further and targets 1.0300 by the year-end.
Chart. Weekly USD/CHF