USD/CHF intraday pullbacks should hold near 1.0050 – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, occasional dips in USD/CHF should find support around 1.0050.

Key Quotes

“The market continues to see a strong rebound from the .9945/43 uptrend and has started to probe the 55 day ma at 1.0105. Last weeks high at 1.0119 is exposed. We view the market as having based recently at the .9861 low, (we suspect that the market has turned at the 200 day ma and the 55 week ma). Intraday dips are indicated to hold circa 1.0050”.

“While above .9945/43, 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”.