USD/CHF looks to regain 0.9787/0.9833 – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, believes the pair could revisit the area of 0.9787/0.9833.

Key Quotes

“USD/CHF has eased back slightly to the previous downtrend at .9663, which is holding and we suspect that scope is now limited and will look for further strength”. 

“The market bottomed last week just ahead of the 200 week ma at .9404 (please note that the .9392 55 month moving average is also located here)”.

“We look for further gains to tough resistance at .9787/.9833 area (the December low, late March high and the 200 day moving average)”.