USD/CHF consolidates ahead of a potential move higher – Commerzbank

Pablo Piovano FXStreet

Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, suggested the pair could attempt a move to the 0.9760 region and even surpass 0.9800.

Key Quotes

“USD/CHF has eroded its two month downtrend line but not sustained the break and is consolidating. We remain unable to rule out a deeper recovery towards the .9762 10th January peak and possibly the 55 day ma at .9812. Dips will find minor support at .9660.”

“Key resistance remains .9841/44, the September and October lows and while capped here we will maintain an overall negative bias.”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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