USD/CHF next stop at 0.9845 – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s recovery could visit the 0.9845 area.

Key Quotes

“USD/CHF continues to recover off .9553/22, the 78.6% retracement and recent low, where it held last week on a closing basis and reversed”.

“The acceleration higher now faces the 200 day ma at .9845 and once this is overcome, attention will be directed at the .9956 May high”.

“Key short term resistance is .9990/1.00. This is the 61.8% retracement of the move down from November 2015. This will act as the break point to the 1.0128 March 2015 peak and the 1.0295/1.0328 2015 highs”.