USD/CHF: Strength could extend to the 0.9840 region – Commerzbank

Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, suggested the pair could attempt a move to the 0.9841/44 band.

Key Quotes

“USD/CHF is eroding the 55 day ma at .9768. A daily chart close above it would imply that the market has based near term. It could possibly fail again for a slide back into the range (it is possible that this is an ‘ab-c’ correction). Currently however we suspect that there is scope for near term strength to extend to .9841/44, the September and October lows and the 200 day ma at .9970.”

“Failure at current levels would place the market back in the range and re-target the .9613 January low and the September 2018 low at .9543.”