USD/CHF to rise above its downtrend at .9195 and beyond – Commerzbank

Dollar strength has led the USD/CHF pair towards the 0.9195 downtrend. The next target on the upside is located at the 0.9274 June high, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.

Strong reversal from 0.9018 implies a reattempt on the topside

“USD/CHF charted a key day reversal from 0.9018 last week, just ahead of the 2021 support line at 0.8997.” 

“The aggressive rally higher is approaching the 4-month downtrend at 0.9195. Above the downtrend lies the 0.9274 June high.” 

“Above 0.9274 lies the March 12 high at 0.9325, the early March high can be seen at 0.9375 and the April peak at 0.9472.”