USD/CHF near term outlook stays positive – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, USD/CHF has shifted the attention to the mid-1.0200s.

Key Quotes

“The cross closed above its 2017 do2wntrend on Friday and is maintaining a foothold above its 20 and 55 day ma (1.0019/0.9992on a closing basis and in doing so has refocused attention on the 1.0248 11th January high and the 1.0328 2015 and 1.0344 December 2016 highs. We note the 13 count on the 240 minute chart and very near term would allow for a dip lower. Dips are indicated to hold circa 1.0055/1.0025”.

“The market is bid above the 200 day ma at .9943 and is generally well supported in the .9860/14 zone”.