USD/CHF door open for a test of 1.0212/78 – Commerzbank

FXStreet (Edinburgh) - In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair remains well poised to test the 1.0212/78 area.

Key Quotes

“USD/CHF has at last challenged the 1.0120/25 recent high and Fibonacci retracement”.

“A close above here should trigger gains to the 1.0212/78.6% retracement which remains the break point towards 1.0295 and the 1.0328 recent high”.

“A close above here will introduce scope to 1.0732, the 78.6% retracement of the move from 2010 to 2011”.