USD/CHF flirting with last week’s low at 0.9629 – Commerzbank

FXStreet (Barcelona) - Axel Rudolph, Analyst at Commerzbank, notes that USD/CHF is moving near the last week’s low at 0.9629, below which lies 0.9486/12.

Key Quotes

“USD/CHF once again nears last week’s low at .9629 while remaining below the psychological 1.0000 mark. Support below .9629 comes in between the 55- and 200-day moving averages at .9486/.9412 and resistance above 1.0000 at the current March high at 1.0128.”

“A move above 1.0128 would be regarded as the break up point to the 1.0240 mid-January high and the 1.0295 January 5 high.”

“Shorter term (1-3 weeks): Bid while above the 55- and 200-day moving averages at .9486/.9412.”

“Medium term (1-3 months): Should oscillate between the .9400 and 1.0250 levels.”