USD/CHF Now Targets 0.9777 – Commerzbank
In opinion of Axel Rudolph, Senior Technical Analyst at Commerzbank, the pair could now be headed towards the 0.9780 area.
“USD/CHF has risen above its previous April high at .9688 and now targets the 55 day moving average at .9777”.
“The next higher .9787/.9831 area is also in focus. It is made up of the December low, late March high and the 200 day moving average”.
“We will keep our immediately short term bullish forecast while the .9584 April 19 low underpins”.