Outlook on USD/CHF stays positive above 0.9855 – Commerzbank

In view of Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, USD/CHF should keep the upside bias unchanged while above 0.9855.

Key Quotes

“Last week USD/CHF reached the August peak at .9975 and made its current September high at .9984 before coming off again. Above these levels sits the mid-June high at 1.0014”.

“Immediate upside pressure will be maintained while the cross remains above the .9855 September 13 low”.

“Below it sit the .9659 August low and the September 2018 low at .9543. Only failure at the next lower .9799 current September low would push key support at .9716/.9659 to the fore. It is the location of the January, June, mid- and late August lows”.