USD/CHF bid above 0.9670 – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s outlook remains positive while above the 0.9670 level.

Key Quotes

“USD/CHF has overcome the 2017-2018 downtrend at .9858. We have registered a weekly close above here to confirm the break. The market is immediately bid above the 200 day ma at .9670 and the uptrend at .9665. The next resistance to aim for is the .9978 8 th December high and then 1.00395 the 27th October 2017. Caution is warranted near term as we have TD 13 counts on the intraday charts, but for now we will attempt to buy the dips”.

“Failure at the uptrend will target the .9535 10th April low and below here will trigger losses to .9425, the 14th March low”.