FXStreet Karen Jones, head of FICC Technical analysis at Commerzbank, notes that a rally of the USD/CHF is in the area of the 0,9725/75 is a strong resistance to bump.
“The USD/CHF day RSI has not confirmed the recent Low. Thus, the possibility of a small recovery from the 0,9670 Deep. Including the market is on the way to the 0,9550/44 (200-week MA, and in 2016 Tief). Short-term rallies will to fight will probably have at the 0,9725/75.”
“Under the 200-day MA of 0,9970 the offers remain the same, while this is a level defended by the key resistance of 1,0108 (April High).”
** FXStreet News Editorial, FXStreet**