USD / CHF is near multi-month highs around 0.9400, approaching the mid-July high at 0.9467. Axel Rudolph, Senior Technical Analyst at Commerzbank, indicates that the pair is targeting the 200-week moving average at 0.9664 in the medium term.
Key statements:
“USD / CHF is rapidly approaching the June 23 low at 0.9421 above which the mid-July high can be seen at 0.9467. Higher up is the 50% retracement of the 2019-2021 dip at 0.9499 “.
“Our medium-term bullish target is the 200-week moving average at 0.9664.”
“Setbacks should find support around the 38.2% Fib retracement at 0.9324, below which is the September high at 0.9296.”
“We will maintain our medium-term bullish forecast as long as the cross remains above the mid-March low of 0.9215.“.
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