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USD/CHF keeps the positive bias – Commerzbank

FXStreet (Edinburgh) - Following the recent strong rebound, the pair could be on its way to recover the 0.9701 level and probably 0.9903, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

USD/CHF last week came under downside pressure and sold off to the 200 day ma at .9541 and the base of the cloud at .9527, from where the market has seen a stunning recovery”.

“This has been enough to reassert a near term upside bias and the market is already probing the top of the cloud at .9701”.

“Above here would suggest scope to tackle the .9903 recent high. A close above here is needed for a move to the psychological resistance at 1.00 and the 2015 high at 1.0295”.

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