USD/CHF Now Targets 0.9990/1.0000 – Commerzbank
In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, spot still targets the 0.9990/1.0000 band.
“USD/CHF has maintained upside pressure. We have a TD perfected set up on the 240 minute chart and the intraday momentum indicators are overstretched - not enough for failure but enough for a small retracement”.
“We target initially .9990/1.00.This is the 61.8% retracement of the move down from November 2015 and then 1.0139, this is seen as the last defence for the 1.0328 November 2015 high”.