USD/CHF keeps recovering, now targets 0.9814 and above – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted a close above 0.9885 could reignite the buying interest around the pair.

Key Quotes

“USD/CHF continues to push into the .9772 August high, currently the near term consolidation is viewed in a bullish light. We note directly overhead lies the March low at .9814, the 200 day ma at .9836 and the 55 week ma at .9869. A close above .9885 the 50% retracement would really ignite upside interest and introduce scope to .9993 then 1.0150”.

“Dips lower should ideally be contained by the near term uptrend at .9680”.

“Failure at .9414 (early June low) would open the way for the October 2014 low at .9361 to be reached initially”.