USD/CHF further gains seen on a close above 0.9979/1.00 – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair should expect further gains on a close above the 0.9979/1.0000 band.

Key Quotes

“USD/CHF has reached the 2015-2016 resistance line at .9979 and the 1.00 level, this is key short term resistance and it is possible that we will see this hold the initial test. A close above here remains the break up point to the 1.0295/1.0328 2015 highs. There is very little above here until we reach the 1.0910 61.8% retracement of the move down from 2005”.

“Intraday dips are indicated to hold .9885/25 ahead of the .9772 200 day ma and .9640 end of September low”.