USD/CHF risks remain to the upside – Commerzbank

The pair keeps the upside risks unchanged for the time being, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

“USD/CHF continues to sit just below the .9992 June high. The pullback from here has been tepid and has so far held above the 55 day ma which lies at .9813 and the 200 day ma at .9742. We will assume overall risk remains on the topside”.

“Dips will find minor support at .9742, .9642 ahead of .9524. Below .9524 remain the February high at .9470 and the mid- and late March lows at .9434/25. Further down the 78.6% Fibonacci retracement can be spotted at .9376”.