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”.
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.