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USD/CHF Upside Capped by 0.9787/0.9834 So Far – Commerzbank
According to Senior Technical Analyst at Commerzbank Axel Rudolph,
further gains in spot could face a strong hurdle in the 0.9787/0.9834
band.
Key Quotes
“USD/CHF slipped below the April 19 low at .9584 below which lies the April trough at .9499”.
“The
topside remains capped by tough resistance at .9787/.9834 area (the
December low, late March high and the 200 day moving average)”.
“Intraday
rallies are indicated to fail at the February and mid-March lows at
.9651/60. This guards the resistance line at .9739 and the April high at
.9797”.
