USD/CHF bullish forecast from Credit Suisse.

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Analysts at Credit Suisse provided their outlook on USD/CHF yesterday, stating that they remained long on USD/CHF from 0.9645, with a stop at .9585, and a target at .9788.

“We look for further strength towards price and the 38.2% retracement of the March/April sell-off at .9712/26. We would expect an initial cap here, but a direct break higher can suggest a challenge of the late March 2016 high and the 38.2% retracement level at .9788/90, followed by the 200-day average at .9830. Support remains at .9614, then .9596/85, which we look to hold. Below here can aim at .9542, beneath which can open up a rest of the week’s low at .9498.” written in the report.

A photo taken on November 1, 2011 shows the logo of the Swiss banking giant Credit Suisse in Zurich. Credit Suisse said on November 1 that third-quarter net profit rose 12 percent from a year ago to 683 million francs (562 million euros, 776 million US dollars), but said it would cut staff by three percent. AFP PHOTO / FABRICE COFFRINI (Photo credit should read FABRICE COFFRINI/AFP/Getty Images)

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