USD/CHF further gains likely while above 0.9650/34 – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair aims for further gains as long as it remains above the 0.9650/34 band.

Key Quotes

“USD/CHF has a mild upside bias, but looks and feels fairly lacklustre, we are seeing very little impetus on thrusts lower also. Currently we look for the market to remain well supported on dips to .9690/70 and favour recovery”.

“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”.

“Support below the next lower .9522 June low comes in at .9499/.9444, where the April and May lows were made”.