USD/CHF potential for an upside to 0.9826 – Commerzbank

In light of the ongoing correction higher, the pair could attempt a visit of 0.9826, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

“USD/CHF has rallied strongly higher following its doji charted on Tuesday”.

“It finally reacted to its oversold RSI and TD perfected set up, we suspect that the market has based”.

“We have rallies to the February low at .9660 and previous downtrend at .9681 (which is now resistance) and would allow for this to hold the initial test ahead of gains to the .9826 200 day ma”.