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Forex pairs in this Article » USD/CHF (London) - USD/CHF reached a high last week at 0.9485 and has since rebounded from a low of 0.9420.

USD/CHF reached a high of 0.9464 overnight and remains in positive territory in London’s opening hour. The market will focus on US data for the pair today, while regional surveys suggest that ISM manufacturing in June printed back above 50, suggesting that soft patch is coming to an end.

USD/CHF targets 0.9568

USD/CHF’s recent move higher has so far been capped by the 50% retracement at 0.9485, according to research teams at Commerzbank. Karen Jones, analyst at the bank said it may well head up towards the 0.9568 61.8% Fibonacci retracement. “Rallies will need to rise above this level to alleviate immediate downside pressure. Dips should find interim support at 0.9242/0.9176 ahead of 0.9130”. She said the short term support line is located at 0.9425.
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