According to Commerzbank Senior Technical Analyst Axel Rudolph, the USD / CHF pair could now move into a consolidation phase.
Key statements:
“The USD / CHF still has the 61.8% Fib retracement at 0.9264 and March 12 high of 0.9325 in its sights. Higher up the early March high can be seen at 0.9375 and the April peak at 0.9472. “
“Possible declines below this week’s low of 0.9154 should find support between the 55 and 200-day moving averages at 0.9075 / 72 and the highs of late May and early June, as well as the high of early February. at 0.9054 / 46. “
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