USD/CHF now targets the 0.9880 area – Commerzbank

In opinion of Karen Jones, Head of FICC Technical Analysis Research at Commerzbank, the pair could now head towards the 0.9880 area.

Key Quotes

“USD/CHF has eroded the .9819/18 recent high and resistance line and in doing will targets the .9878 7 month resistance line and then May and July highs at .9952/56, together with parity”.

“Dips should hold over .9743/40 (55 and 20 day ma) and while above here the market will remain immediately bid. Failure here would leave the market side lined/ range bound still and a possible retest of the early August and current September low at .9650/34 back in the picture”.