USD/CHF is in five-month highs, 0.9337 next target on the upside - Commerzbank

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20 September 2021

USD/CHF is in five-month highs, 0.9337 next target on the upside - Commerzbank

FXStreet notes that USD/CHF is approaching the 2019-2020 downtrend at 0.9337. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to run out of steam at this mark.

“USD/CHF has rallied into 5-month highs following the break above the 0.9274 July high. Directly above here lies the 2019-2020 downtrend at 0.9337, where we suspect that the market will struggle.”

“The pair will have to slide back below the 55-day ma at 0.9168 to alleviate immediate upside pressure.”

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