USD/CHF now targets 0.9992 – Commerzbank

Following the recent recovery, the pair is now targeting the 0.9992 level, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

“USD/CHF remains on course for the .9956 78.6% retracement and the .9992 June high. It will stay immediately bid above the 200 day ma at .9732.The 55 day ma lies at .9815”.

“Resistance at .9992 guards the top of the range at 1.0145, the mid July high”.

“Dips will find minor support at .9732, .9642 ahead of .9524. Below .9524 remain the February high at .9470 and the mid- and late March lows at .9434/25. Further down the 78.6% Fibonacci retracement can be spotted at .9376”.