USD/CHF to continue rallying higher towards the 0.9274 June high – Commerzbank

USD/CHF reclaimed the 0.9200 mark on Monday and is set to reach the 0.9274 June high, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports. 

Above 0.9274 will introduce scope for 0.9380

“USD/CHF’s aggressive rally higher has now eroded the 4-month downtrend and this clears the path to 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 2019-2020 downtrend at 0.9380.”

“Dips should find interim support at the 55-day ma at 0.9116 and the 200-day ma at 0.9074. This guards the 4-month uptrend at 0.8998.”