USD/CHF rangebound in the near term – Commerzbank

By FXStreet FXStreet (Edinburgh) – According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could face a consolidative pattern in the near term ahead of further gains.

Key Quotes

“Following such strong NFP numbers USD/CHF was able to erode the 1.0000 mark, we have seen an almost straight run up from .9500 in a matter of a few weeks and we would not be at all surprised to see some near term consolidation ahead of further gains to the 1.0128 March high and then the 1.0295 2015 high”.

“We have a TD perfected set up on the daily chart and 240 minute chart and a 13 count on the hourly chart”.
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Source:: FX Street