USD/CHF: Top formed at 1.0100 – Commerzbank

Axel Rudolph, analyst at Commerzbank, notes that this morning USD/CHF pair has rallied to 1.0100 before swiftly coming off, thus forming a top.

Key Quotes

“1.0100 is the last defence for the 1.0128 November high. A slide back towards the 200 day ma at .9908 is now on hand as long as 1.0100 caps.”

“Initial support is the top of the cloud at .9959. The November 2018 high at 1.0128 is the break point for the 1.0343 December 2016 peak.”