USD/CHF to extend its correction higher towards the 0.9100 mark – Commerzbank

The 0.8931/10 support band has held. Subsequently, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the USD/CHF pair to correct higher towards the 0.9100 level.

55-day ma at 0.9168 to cap the rally

“USD/CHF held the 0.8931/10 band of support (Fibo), as we suspected and the market looks set to extend its correction to 0.9100 and potentially the 55-day ma at 0.9168, which we are expecting to cap the rally.”

“The 0.8910 level is regarded as the last defence for the 0.8872 mid-February low and the 0.8780 January low.”