USD/CHF nearly reached the 0.9376 June low yesterday before stabilising at 0.9384. Today, the pair is edging higher and trades near daily highs around 0.9450, up 0.30% on a day. Nonetheless, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, notes that USD/CHF will retain a bearish bias while below the 0.9491 mark. Key quotes “While capped by the two-month resistance line at 0.9491 a negative bias should persist, however, with our downside target remaining the 0.9376 June 11 low which is the last defence for 0.9184 the March low.” “Further resistance can be spotted at the 0.9532/53 mid- and late June highs. These would need to be overcome for current downside pressure to be alleviated and for a recovery to the five-month downtrend line at 0.9637 to become possible.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Cryptocurrency Market Update: Cardano to the moon as Bitcoin, Ethereum and Ripple stall FX Street 3 years USD/CHF nearly reached the 0.9376 June low yesterday before stabilising at 0.9384. Today, the pair is edging higher and trades near daily highs around 0.9450, up 0.30% on a day. Nonetheless, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, notes that USD/CHF will retain a bearish bias while below the 0.9491 mark. Key quotes “While capped by the two-month resistance line at 0.9491 a negative bias should persist, however, with our downside target remaining the 0.9376 June 11 low which is the last defence for 0.9184 the March low.” “Further resistance can be spotted at the 0.9532/53 mid- and late… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
