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Further upside in the pair carries the potential to visit the 0.9760 region, according to Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.

Key Quotes

USD/CHF eroded its two month downtrend line last week. We would allow for a deeper recovery towards the .9762 10th January peak and possibly the 55 day ma at .9808. Dips will find minor support at .9660.”

“Key resistance remains .9841/44, the September and October lows and while capped here we will maintain an overall negative bias.”