USD/CHF upside bias should remain above 0.9950 – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, USD/CHF’s stance should stay positive while above 0.9950.

Key Quotes

“The market has eased back from its cloud at 1.0098 last week, but the dip was relatively shallow and held over the 55 and 20 day ma (1.0027/06). Provided it holds over the 200 day ma at .9950 an upside bias will remain. We target in the 1.0248 11th January high and the 1.0328 2015 and 1.0344 December 2016 highs”.

“The market is bid above the 200 day ma at .9950 and is generally well supported in the .9860/14 zone”.