USD/CHF Outlook on 1,0039 positive – Commerzbank

FXStreet Karen Jones, head of FICC Technical analysis at Commerzbank, notes that the prospects for the USD/CHF with a daily closing price over 1,0039 positive.

Important Quotes

“The USD/CHF was sold on Friday, and it came from the targets 0.9850 April Low to a robust recovery, which led to a daily closing price above the 61.8% Fibonacci Retracement of 0,9853. There is a closing price on the 2016 line of resistance of 1,0039 is necessary, however, to negate the downward pressure. Then profits to 1,0140 (High-7. March) and 1,0335 (2017 High).”

“Under targets 0.9850 the 0,9814 and the 78,6% Retracement of 0,9720 is the next target.”

** FXStreet News Editorial, FXStreet**

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