USD/CHF: A break above 1.0000 targets 1.0057 - Commerzbank

Dhwani Mehta FXStreet

Karen Jones, Analysts at Commerzbank, notes that the USD/CHF pair holds its near-term uptrend, but needs a break above 1.0000 for further upside.

Key Quotes:

“USD/CHF has pulled back to .9900/.9880 and recovered from here. While above here it remains well placed to tackle resistance at .9990/1.0000. Above 1.0000 targets 1.0057, the recent high. This guards the 1.0093/1.0108 (April 2017 high and 78.6% retracement) and then 1.0343, the 2016 high. The .9856 25th June low guards the recent low at .9789 and the 200-day ma at .9736.

Failure at 9736/24 (38.2% retracement + 200-day ma) will target the .9535 10th April low and below here will trigger losses to .9425, the 14th March low.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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