USD/CHF to extend its correction higher towards the 0.9100 mark – Commerzbank

USD/CHF remains upside corrective. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to extend its recovery towards the 0.9100 level.

USD/CHF remains corrective

“USD/CHF is at last bouncing higher from the 0.8931/10 band of support (Fibo), and is upside corrective near-term.” 

“The pair looks set to extend its correction to 0.9100 and potentially the 55-day ma at 0.9154, which we are expecting to cap the rally.” 

“The 0.8910 level is regarded as the last defence for the 0.8872 mid-February low and the 0.8780 January low.”