USD/CHF scope for a visit to 0.9814 – Commerzbank

In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the upside momentum in spot could see a visit to levels above the 0.9800 handle.

Key Quotes

“USD/CHF is probing the .9772 August high and we look for a challenge to the .9814 end of March low and the 55 week ma at .9870. A close above here would really ignite upside interest, a close above .9772 would add weight to the idea that the market has based. We note the 13 count on the 240 minute chart and would allow for a dip back”.

“Dips lower will find initial support offered by the .9701 accelerated uptrend, ahead of .9623/24”.

“Failure at .9411 (support line) would open the way for the October 2014 low at .9361 to be reached initially”.