USD/CHF: Targets 1.0023/28 – Commerzbank

USD/CHF daily’s RSI has diverged, which implies a near-term consolidation in the opinion of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank.

Key quotes

“USD/CHF has again failed at 0.9900 and this coupled with a divergence of the daily RSI, points to a near term consolidation/a correction lower.” 

“Dips lower should remain contained by 0.9675/0.9613 (January low) for an upside bias to remain entrenched.” 

“Above 0.9900/20 is that the market is capable of further gains to 1.0023/28, the October and November highs.”