USD/CHF keeps the focus on 0.9952/56 – Commerzbank

Senior Analyst at Commerzbank Axel Rudolph noted the pair keeps targeting the 0.9952/56 area while above 0.9793.

Key Quotes

“USD/CHF has risen above the .9872 eight month resistance line above which the May and July highs can be seen at .9952/56. These very much remain in focus. Still further up beckons parity. These levels will remain in focus while no daily chart close below the 200 day moving average at .9793 is seen”.

“Dips should hold between the .9843 August 9 high and the 200- and 55- day moving averages at .9793/41. Only unexpected failure at the latter level would leave the currency pair side-lined and allow for the early August and September low at .9650/34 to be reached. This is not expected to happen”.