USD/CHF Analysis (August 23)

The pair continues to consolidate after its sharp from its record low (0,7070) as market participants are now waiting for the next move from the SNB.
We expect a continuation of the move to the upside as this market has been in an oversold state for quite some time. A break above 0,80 should allow an extension towards 0,82 and even 0,84 (daily 100 moving average).
Only a daily close below 0,7770 (20 moving average) would alleviate this scenario with a possible resumption of the downtrend.