USD/CHF now focuses on 0.9765 – Commerzbank

By FXStreet FXStreet (Edinburgh) – Axel Rudolph, Senior Technical Analyst at Commerzbank, sees the likeliness that the pair could test the 0.9765 levels in the medium term.

Key Quotes

“USD/CHF has risen above the 61.8% Fibonacci retracement at .9657 and is gunning for the 78.6% Fibonacci retracement at .9765”.

“Dips should find initial support at circa .9551/40, the 200 and 55 day ma, ahead of .9467 (50% retracement of the recent rally). This guards the .9275/60 3 month support line and recent low”.

“The .9643 resistance line guards .9800 then the .9903 recent high”.
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Source:: FX Street