USD/CHF stays positive above 0.9964 – Commerzbank

According to Karen Jones, Head of Technical Analysis at Commerzbank, theoutlook on USD/CHF remains positive above 0.9964.

Key Quotes

“The market recently failed to maintain a foothold over the 55 day ma at 1.0100. The market recently faltered ahead of 1.0159, the 61.8% retracement of the move down from December and has corrected lower, dips should remain relatively shallow. While above the .9964 near term uptrend, we would expect it to generate some upside interest to 1.0248 11th January high and the 1.0328 2015 and 1.0344 December 2016 highs”.

“Only below 9964 would trigger a slide to the .9861/50 recent low and Fibo”.