USD/CHF still focused on 0.9952/56 – Commerzbank

Karen Jones, Head of FICC Technical Analysis Research at Commerzbank, noted the pair remains focused on the 0.9952/56 band.

Key Quotes

“USD/CHF remains under pinned very near term by the .9660/50 September low for the third time in about a week (this is indicated to hold). Last week the market saw emphatic failure at the 200 day ma at .9802, but we look for this to be retested. The market is back in the middle of the large range .9444 to .9956, which has dominated the market for months now”.

“While no slip and daily chart close below the early August and current September low at .9650/34 is seen, the May and July highs at .9952/56 will remain in focus, together with parity”.