USD/CHF: Attempting to buy the dip – Commerzbank

USD/CHF has rallied from 0.9500 and is now approaching the 0.9810 200-day ma. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, analyzes the USD/CHF pair technical outlook.

Key quotes

“We note the 13 count on the 240-minute chart and will allow for the 200-day ma to hold the initial test and for a small near term dip, we will attempt to buy the dip.” 

“Support lies at the 0.9607 accelerated uptrend.” 

“Above the 200-day ma lies the 0.9900 recent high. Above 0.9920 the market is capable of further gains to 1.0023/28, the October and November highs.”