USD/CHF consolidates ahead of a potential move higher – Commerzbank

Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, suggested the pair could attempt a move to the 0.9760 region and even surpass 0.9800.

Key Quotes

“USD/CHF has eroded its two month downtrend line but not sustained the break and is consolidating. We remain unable to rule out a deeper recovery towards the .9762 10th January peak and possibly the 55 day ma at .9812. Dips will find minor support at .9660.”

“Key resistance remains .9841/44, the September and October lows and while capped here we will maintain an overall negative bias.”