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USD/CHF is seeing volatile swings but the pair is still bid and is starting to break higher. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to tackle the recent high of 0.9375.

Key quotes

“USD/CHF is seeing some volatile swings intraday, but our inclination remains the same – while we are above 0.9210, our bullish bias is intact. Attention reverts to the recent high of 0.9375.”  

“Above 0.9375 lies the 0.9439 TD resistance and the 50% retracement at 0.9500.”  

“Dips will find initial support at 0.9111, the 200 day ma, where we suspect that the dip lower will hold. Below here lies 0.9045, the 4th February high.”