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.
“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**