Karen Jones, analyst at Commerzbank, suggests that the USD/CHF pair is a bid near term and faces resistance initially at the 1.0052/15th March high and the 1.0075/78.6% retracement.
“It is possible that we will see the market stall here and ease back to the 200 day ma at .9927. This guards the March low at .9895 and the .9866 6 month support line and the .9716 recent low. The 1.0075/78.6% retracement, is viewed as the last defence for the top of the range at 1.1028, where we would again allow for failure. A break above the 1.0128 November high would introduce scope to the 1.0343 December 2016 peak.”
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