USD/CHF upside bias unchanged above 0.9868/58 – Commerzbank

In opinion of Axel Rudolph, Senior Analyst at Commerzbank, the pair’s bid tone remains intact as long as 0.9868/58 holds.

Key Quotes

“USD/CHF remains side-lined around the 55 day moving average at .9923. We still have a slight upside bias while the July lows at .9868/58 underpin. In order for the currency pair to re-assert upside pressure it will have to overcome the June high at .9992, however”.

“Failure at .9958 would alleviate upside pressure and signal a slide towards the .9789/56 zone, made up of the June low and 200 day moving average where ideally we would see the cross stabilise”.