USD/CHF positive above 0.9671 – Commerzbank

By FXStreet FXStreet (Edinburgh) – Karen Jones, Head of FICC Technical Analysis at Commerzbank, suggested the pair could keep the positive bias while above 0.9671, daily cloud top.

Key Quotes

“USD/CHF has eased back to and has recovered off the top of the daily cloud, this is located at .9671 today, while above here we will maintain a positive bias”.

“The market last week eroded the 78.6% Fibonacci retracement at .9765 and the 17th August high at .9800, which suggests scope to tackle the .9903 recent high”.

“A close above here is needed for a move to the psychological resistance at 1.00 and the 2015 high at 1.0295”.
For more information, read our latest forex news. …read more

Source:: FX Street