USD/CHF sidelined so far – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair keeps within a consolidative more for the time being.

Key Quotes

“No change. USD/CHF remains side lined just below the 1.0039 recent high. Our attention remains on this level - it guards 1.0100/08 the April and May highs and the 1.0145 78.6% retracement. Longer term this is considered to be the last defense for the 1.0335 January 2017 high. Dips lower should be well supported by the short term uptrend at .9877”.

“Dips lower should find support around .9814/.9888, the 200 day ma and the uptrend. Initial support is the .9938 30th October 2017 low”.

“Only failure at .9705, the mid October low, would target the .9553 June 30 low and potentially the .9421 September low”.