USD/CHF could attempt a test of 0.9674 – Commerzbank

Following the recent price action, the pair could attempt a visit to the 0.9674 level, suggested Axel Rudolph, Senior Analyst at Commerzbank.

Key Quotes

“USD/CHF reached the 55 day moving average at .9507 and is also Resistance line comes in at .9572 approaching the four month resistance line at .9572 which is likely to at least short term cap”.

“Having said that the cross formed a bottom at .9188 and over the coming weeks could reach the 200 day moving average at .9674”.

“Slips should find support between the February high and the March 1 high at .9490/70. Further support is seen around the February 22 high at .9410”.

“Below .9325 would target the .9257 February 1 low and also the .9188 February trough”.