USD/CHF faces a probable move to 0.9762 – Commerzbank

Karen Jones, Team Head FICC Technical Analysis at Commerzbank, suggested the pair could advance to the 0.9762 level if manages to clear 0.9692.

Key Quotes

“USD/CHF is eroding its two month downtrend line at .9692 and as a precaution we have exited our short positions. A break above here will target the .9762 10th January peak and possibly the 55 day ma at .9822. Dips will find minor support at .9660.”

“Above .9762 would suggest a retest the .9841/44 resistance (September and October lows).”