USD/CHF: Scope for gains to the 0.9472 March peak – Commerzbank
|USD/CHF has reached the 78.6% retracement at 0.9357. A close above here will trigger a move to the 0.9472 March peak, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, rporets.
RSI has diverged on the move to a new high
“USD/CHF has traded through but not yet closed above the 78.6% retracement at 0.9357 and we note the divergence of the daily RSI which reflects a loss of upside momentum. The pair may well consolidate in this vicinity and possibly see a small pullback.
“A close above 0.9357 will trigger a move to the 0.9472 March peak. The 200-week ma lies at 0.9589.”
“The market will have to head below the 0.9205 uptrend to alleviate immediate upside pressure.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.