USD/CHF should regain extra upside momentum above 1.0014, noted Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.
Key Quotes
“USD/CHF last week bounced from the 55 day ma at .9853 to reach the 200 day ma at .9950. But the .9975/84 recent highs and the mid June high at 1.0014 need to be overcome to generate some further upside interest and we suspect this will act as a tough near term barrier”.
“Failure at the next lower .9799 current September low would push key support at .9716/.9659 to the fore. It is the location of the January, June, mid- and late August lows. Below here sits the .9659 August low and the September 2018 low at .9543″.
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