USD/CHF points to rangebound near term – Commerzbank

By FXStreet FXStreet (Edinburgh) – In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could attempt some consolidation ahead of a potential visit to 1.0128 and above.

Key Quotes

“USD/CHF has started to erode its accelerated uptrend”.

“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/correction lower 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. All add weight to the near term correction lower idea”.
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Source:: FX Street