USD/CHF should find support around 0.9813/34 – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair should find contention around the 0.9813/34 band.

Key Quotes

“USD/CHF is consolidating near term at the .9990 61.8% retracement of the move this year, beyond a small dip we look for further gains. Last weeks high at 1.0039 guards 1.0100/08 the April and May highs and the 1.0145 78.6% retracement. Longer term this is the last defense for the 1.0335 January 2017 high”.

“Slips should find support around.9813/.9834, the 200 day ma and the uptrend”.

“Only failure at .9705, the mid October low, would target the .9553 June 30 low and potentially the .9421 September low”.