USD/CHF: upside correction could extend to the 1.0014/28 area – Commerzbank

Following the recent price action, the pair could move to the 1.0014/28 band, suggested Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.

Key Quotes

“USD/CHF is probing the .9984/96 mid-September and mid-October highs these look exposed and the market capable of extending its gains to the 1.0014/28 mid-June and October peaks and even 1.0124/28 (March and November 2018 highs), which are expected to cap. This is essentially the top of the recent range, we would expect failure”.

“Failure here will target the .9844/41 September and October lows”.