In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s stance remains positive in light of the recent price action.
“USD/CHF crept higher leaving our positive bias unchanged. We view the market as having based at the .9861 low. We suspect that the market has turned at the 200 day ma and the 55 week ma at .9890/60 and that this is an interim low. Intraday we note the 13 count on the 60 minute chart and will allow for slight slippage to 1.00 ahead of the next push higher”.
“While above 1.00/.9970 we would expect it to generate some upside interest to 1.0248 11th January high and the 1.0328 2015 and 1.0344 December 2016 highs”.
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