USD/CHF stays focused on 1.0039 – Commerzbank
The pair’s upside momentum keeps the attention on the 1.0040 area, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank.
“USD/CHF spent much of last week side lined just below the 1.0039 recent high. Our attention remains on this level - it guards 1.0100/08 the April and May highs and the 1.0145 78.6% retracement. Longer term this is considered to be the last defense for the 1.0335 January 2017 high. Dips lower are indicated to hold .9925/.9855”.
“Dips lower should find support around .9813/.9866, the 200 day ma and the uptrend. Initial support is the .9938 30th October 2017 low”.
“Only failure at .9705, the mid October low, would target the .9553 June 30 low and potentially the .9421 September low”.