USD/CHF: Break above 0.9313 to open up the recent high of 0.9369 – Commerzbank

USD/CHF has pierced its near-term downtrend at 0.9164. This signals a potential rise as high as the recent high of 0.9369, in the view of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.

Bid above the uptrend at 0.9095

“USD/CHF has eroded the 0.9164 downtrend, and this implies near-term gains to 0.9229 and potentially 0.9300/13, where we suspect the move will struggle.”

“The pair stays bid while above the 2020-2021 uptrend at 0.9095.”

“Above the 0.9313 mid-October high lies 0.9357/69 (the recent high).”