USD/CHF targets the 0.9300 area and above – Commerzbank

The US Dollar continues to appreciate across the board. Consequently, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, expects the USD/CHF pair to reach the 0.9355/75 region.

Long-term, USD/CHF targets the April high at 0.9472

“USD/CHF is fast approaching the 61.8% Fibonacci retracement at 0.9264 and the March 12 high at 0.9325. Further up the early March high can be seen at 0.9375 and the April peak at 0.9472.” 

“Slips should find support between the 55 and 200-day moving averages at 0.9083/71 and at the 0.9054/46 late May and early June highs as well as the early February high.” 

“In view of the last few days’ strong ascent we switched our forecast to a bullish one.”