USD/CHF keeps the positive tone above 0.9980 – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees USD/CHF keeping its positive stance above 0.9980.

Key Quotes

“The market is well placed to tackle its next resistance at 1.0159, the 61.8% retracement of the move down from December, however we suspect this will take more than one attempt and will cover longs for now. While above the .9980 near term uptrend, we would expect it to generate some upside interest to 1.0248 11th January high and the 1.0328 2015 and 1.0344 December 2016 highs”.

“Only below 9980 would trigger a slide to the .9861/50 recent low and Fibo”.