Following the recent price action, the pair could move to the 1.0014/28 band, suggested Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.
Key Quotes
“USD/CHF is probing the .9984/96 mid-September and mid-October highs these look exposed and the market capable of extending its gains to the 1.0014/28 mid-June and October peaks and even 1.0124/28 (March and November 2018 highs), which are expected to cap. This is essentially the top of the recent range, we would expect failure”.
“Failure here will target the .9844/41 September and October lows”.
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