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The US Dollar continues to appreciate across the board. Consequently, Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, expects the USD/CHF pair to reach the 0.9355/75 region.

Long-term, USD/CHF targets the April high at 0.9472

“USD/CHF is fast approaching the 61.8% Fibonacci retracement at 0.9264 and the March 12 high at 0.9325. Further up the early March high can be seen at 0.9375 and the April peak at 0.9472.”  

“Slips should find support between the 55 and 200-day moving averages at 0.9083/71 and at the 0.9054/46 late May and early June highs as well as the early February high.”  

“In view of the last few days’ strong ascent we switched our forecast to a bullish one.”