USD/CHF could struggle near 1.000 – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, believes the pair’s upside could struggle to overcome the 0.9900-1.0000 band.

Key Quotes

“USD/CHF has already found some support at .9873. The slow stochastics indicator has rolled over and suspect that the market will struggle to overcome its initial resistance at .9990/1.00.This is the 61.8% retracement of the move down from November 2015”.

“Dips lower will find some support circa .9797 (22nd April high) ahead of last weeks low at .9663. Key support is the .9444 recent spike low”.

“Above 1.00 lies 1.0139, this is the 78.6% retracement and it is is seen as the last defence for the 1.0328 November 2015 high”.