The strength of the US dollar continues to be seen across the board. That’s where USD / CHF is, which is targeting the mid-July high of last year at 0.9467, explains Axel Rudolph, technical analyst at Commerzbank.
Key statements:
“The USD / CHF has passed the June 23 low of 0.9421 above which the mid-July high appears 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 0.9663 “.
“The dips should find support around the March 9 high of 0.9375 and also around the 38.2% Fib retracement at 0.9324 below which, the focus would shift to the September high at 0.9296.”
“We will maintain our bullish forecast in the medium term while the crossing is hold above the mid-March low at 0.9215“.
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