USD/CHF poised for further upside – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the likelikess of further upside in the pair.

Key Quotes

“USD/CHF last week sold off to and bounced off the previous downtrend at .9644 currently, it is well placed for further strength”.

“The market has bottomed recently just ahead of the 200 week ma at .9404. We look for further gains to tough resistance at .9787/.9833 area (the December low, late March high and the 200 day moving average). We will partially cover longs as we approach this tough band”.