FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the USD/CHF pair to continue climbing above the 55-DMA at 0.9173.

“USD/CHF has eroded its four-month downtrend. The close above here introduces scope for a deeper correction to the 55-day ma at 0.9173, which is currently holding and potentially the 38.2% retracement of the move down from the March peak at 0.9342.” 

“It should be noted that the market is possibly basing and above 0.9342 would suggest a test of the six-month downtrend at 0.9456.”