USD/CHF to climb towards the 0.9664 mark in the medium-term – Commerzbank

USD/CHF sits near multi-month tops, around 0.9400 mark as the pair continues its ascent towards the 0.9467 mid-July high. Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, targets the 200-week moving average at 0.9664 in the medium-term.

Key quotes 

“USD/CHF is fast approaching the 0.9421 June 23 low above which the mid-July high can be spotted at 0.9467. Further up sits the 50% retracement of the 2019-2021 decline at 0.9499.”

“Our medium-term upside target is the 200-week ma at 0.9664.” 

“Slips should find support around the 38.2% Fibonacci retracement at 0.9324 below which the September high can be spotted at 0.9296.” 

“We will retain our medium-term bullish forecast while the cross stays above the 0.9215 mid-March low.”

 

Source link

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x

Get Registered For FREE Forex Training!

Fill In Your Details To Get Registered For FREE Forex Training!

Do You Know About Forex Trading?(Required)
Have you done Forex Trading before?(Required)
Where did you hear about us?(Required)