USD/CHF well supported at 0.9685/70 – Commerzbank

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, pullbacks in the pair should find strong support in the 0.9685/70 area.

Key Quotes

“USD/CHF is seeing very little limited impetus on these thrusts lower. Currently we look for the market to remain well supported on dips to .9685/70 and favour recovery”.

“While no slip and daily chart close below the early August and current September low at .9650/34 is seen, the May and July highs at .9952/56 will remain in focus, together with parity”.

“Support below the next lower .9522 June low comes in at .9499/.9444, where the April and May lows were made”.