USD/CHF to soar towards the 0.9500 mark once above the 0.9375 eight-month high – Commerzbank

USD/CHF stays bid above 0.9210 and Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, is focused on the 0.9375 eight-month high.

Key quotes

“USD/CHF has swung higher over the past few days and attention remains on the recent high at 0.9375. Above here lies the 0.9439 TD resistance and the 50% retracement at 0.9500.” 

“Short to medium-term target is the 200-week ma at 0.9664.” 

“Dips will find initial support 0.9214/08 (last week’s low and the November high). While above here we are immediately bullish. This guards the 200-day ma at 0.9110.”