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Small pullback likely in USD/CHF – Commerzbank

10:46 23 May /2016 Forex

Following the recent strong up move, there is room for a small retracement in the pair, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

USD/CHF has seen a dramatic rally higher over the past 3 weeks”.

“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”.

“Dips lower will find some support circa .9797 (22nd April high) ahead of last weeks low at .9663. Key support is the .9444 recent spike low”.

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