Axel Rudolph, Senior Technical Analyst at Commerzbank, noted the 0.9660 region could cap gains for the time being.
“USD/CHF 200 day ma comes in at .9658 once more nears the 200 day ma at .9658 which may short term cap again. This resistance is reinforced by the .9691/95 55 and 200 week moving averages and we suspect this tough resistance will take several attempts to clear”.
“Below last week’s low at .9535 will target the March 14 low at .9425”.
“Above the 55 week ma targets the .9824/78.6% retracement. We are still of the opinion that the cross formed a bottom at .9188”.
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.