USD/CHF initial hurdle seen at 1.0140 – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, noted the pair could face initial resistance around 1.0140.

Key Quotes

“USD/CHF is consolidating following the recent erosion of the 2017 resistance line and focus has shifted to overhead resistance. Initial resistance lies at 1.0140 the 7^th  March high then 1.0335 this years high. We note the 13 count on the 240 minute chart and would allow for a small set back. Dips lower are indicated to hold circa 1.00/1.0035. The previous downtrend, now offers support at 1.0029”.

“Below .9850 will target .9814 and below here would target initially .9720, the 78.6% retracement”.