USD/CHF bid above 0.9845 – Commerzbank

In light of the recent price action, spot remains bid as long as it trades above 0.9845, noted Senior Analyst at Commerzbank Axel Rudolph.

Key Quotes

“USD/CHF made a one year high at 1.0056 and over the coming days has the 1.0093/1.0108 March 2016, April and May 2017 highs in its sights. There it is likely to at least short-term pause”.

“The cross remains immediately bid above the .9845 January high”.

“Failure at the four month uptrend line at .9711 will target the .9535 10th April low and below here will trigger losses to .9425, the 14th March low”.