USD/CHF well supported at 0.9710/0.9670 – Commerzbank

Karen Jones, Head of FICC Technical Analysis Research at Commerzbank, noted the pair remains well supported in the 0.9710/0.9670 band.

Key Quotes

“USD/CHF continues to stall at the 200 day ma at .9807, this is now exposed. Currently we look for the market to remain well supported on dips to .9710/.9670 and favour recovery and while above here, the market will remain immediately bid”.

“While no slip and daily chart close below the early August and current September low at .9650/34 is seen, the May and July highs at .9952/56 will remain in focus, together with parity”.