USD/CHF now looks to 0.9534/53 – Commerzbank

Axel Rudolph, Senior Analyst at Commerzbank, believes the pair could now re-visit the 0.9534/53 band.

Key Quotes

“USD/CHF is to bounce off the uptrend channel support line at .9437 and has the 55 day moving average at .9484 as well as the current March high and the four month resistance line at .9534/53 in its sights. Over the coming weeks the cross could still reach the 200 day moving average at .9671”.

“Yesterday’s low at .9425, together with the January 30 and the February 22 highs at .9410/.9394, should hold, if retested. We believe that the cross formed a bottom at .9188”.

“Below .9325 would target the .9257 February 1 low and also the .9188 February trough”.