The 0.8931/10 support band has held. Subsequently, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the USD/CHF pair to correct higher towards the 0.9100 level.
55-day ma at 0.9168 to cap the rally
“USD/CHF held the 0.8931/10 band of support (Fibo), as we suspected and the market looks set to extend its correction to 0.9100 and potentially the 55-day ma at 0.9168, which we are expecting to cap the rally.”
“The 0.8910 level is regarded as the last defence for the 0.8872 mid-February low and the 0.8780 January low.”
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