USD/CHF: The 0.9795/0.9802 resistance zone continues to cap – Commerzbank

USD/CHF has again been rejected by the 200-day moving average and the current April peak at 0.9796/0.9802, analysts at Commerzbank apprise.

Key quotes

“While the resistance area around 0.98 caps on a daily chart closing basis the 55-day moving average at 0.9673 should be revisited. Once it has given way, the current April low at 0.9597 will be back in the picture and this guards the 0.9501 March 20 low.” 

“The 0.9501 support guards 0.9457, the 61.8% Fibonacci retracement and then 0.9337, the 78.6% Fibonacci retracement and the March low at 0.9184.”