Some US dollar strength is being seen across the board. Accordingly, USD/CHF is rebounding steadily in the past few days, and in the view of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, the pair is set to rise towards the 0.9214 mid-March low.
USD/CHF to level out around the 200-day ma and uptrend at 0.9087
“USD/CHF last week sold off to the 2021 uptrend at 0.9087 and the 200-day ma and it is bouncing neatly higher near term.”
“Rallies will find initial resistance offered by the 0.9214 mid-March low and are likely to struggle here.”
“Below the uptrend would target the 0.8872 mid-February low and the 0.8780 January low.”