USD/CHF could slip back to 0.9945/33 – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, has not ruled out a potential visit to the 0.9945/33 band.

Key Quotes

“USD/CHF has seen rejection from the 55 day ma at 1.0105 and is correcting lower, currently we are unable to rule out slippage to .9945/33 the uptrend, prior to another upside attempt. We view the market as having based recently at the .9861 low, (we suspect that the market has turned at the 200 day ma and the 55 week ma)”.

“While above .9945/33 we would expect it to generate some upside interest to 1.0248 11th January high and the 1.0328 2015 and 1.0344 December 2016 highs”.