Senior Analyst at Commerzbank Axel Rudolph noted the pair’s upside remains capped by 0.9498.
“USD/CHF continues to be capped by the 55 day moving average at .9498 but may still reach the four month resistance line at .9572 which is likely to at least short term cap”.
“Having said that the cross formed a bottom at .9188. Over the coming weeks it could still reach the 200 day moving average at .9673”.
“Slips should find support between the February high and the March 1 high at .9490/70. Further support is seen around the February 22 high at .9410”.
“Below .9325 would target the .9257 February 1 low and also the .9188 February trough”.
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