USD/CHF: Advance continues – Commerzbank

Axel Rudolph, analyst at Commerzbank, explains that USD/CHF continues to advance towards the August peak at .9975 and above it sits the mid-June high at 1.0014.

Key Quotes

“Immediate upside pressure will be maintained while the cross remains above the .9855 September 13 low. Below it sit the .9659 August low and the September 2018 low at .9543. Only failure at the next lower .9799 current September low would push key support at .9716/.9659 to the fore. It is the location of the January, June, mid- and late August lows.”