USD/CHF focus is now on 0.9930/50 – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could now be targeting the 0.9930/50 band.

Key Quotes

“USD/CHF finally managed to clear resistance circa .9745/72 and our attention is now on the topside of the range at .9930/50, initial resistance is the 200 day ma at .9858”.

“The intraday Elliott wave count is finally positive and dips should hold circa .9765 ahead of further gains. We note the 13 count on the 60 minute chart and it is possible that we will see some near term consolidation”.

“Above the .9950 resistance lies at .9990/1.00. This is the 61.8% retracement of the move down from November 2015”.