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USD/CHF: door open for a test of 1.000 – Commerzbank

FXStreet (Edinburgh) - Axel Rudolph, Senior Technical Analyst at Commerzbank, sees the likeliness of the pair to visit the psychological 1.0000 level.

Key Quotes

USD/CHF’s bounce off minor support at .9843/24, where the September highs were made, still targets the recent .9958 high and then the 1.0000 mark”.

“Ideally we would like to see a weekly close and preferably a monthly close above the 2001-2015 downtrend at .9855 to confirm last week’s break higher”.

“The market would then have its sights set on .9972, the 2012 highs. Above here sees the 1.0128 March high and then the 1.0295 2015 high”.

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