FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the recent price action would suggest a new visit to the 0.9036 level, recent high.
“USD/CHF has seen follow through buying following the close above its 200 day ma at .8945 and is well placed to tackle overhead resistance offered by the recent high at .9036, the 78.6% retracement at .9048 and the 55 week ma at .9032”.
“We suspect that these will all need to be cleared in order to regenerate strong upside interest”.
“We continue to target the 200 week ma at .9174 slightly longer term”.
“We note the 13 count on the 240 minute chart and the TD resistance at .8995, this suggests some consolidation ahead of further gains”.