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Following the recent recovery, the pair is now targeting the 0.9992 level, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

USD/CHF remains on course for the .9956 78.6% retracement and the .9992 June high. It will stay immediately bid above the 200 day ma at .9732.The 55 day ma lies at .9815″.

“Resistance at .9992 guards the top of the range at 1.0145, the mid July high”.

“Dips will find minor support at .9732, .9642 ahead of .9524. Below .9524 remain the February high at .9470 and the mid- and late March lows at .9434/25. Further down the 78.6% Fibonacci retracement can be spotted at .9376″.