As we move towards the quarterly monetary policy assessment of SNB, Kamrzbank analyst Karen Jones offers a technical approach to the USD / CHF pair and suggests some low pressure in the near term.
" USD/CHF has started coming back from 78.6% retracement in 99 99, it is under pressure close to the period, here's 1.0023 resistance line and 1.0039 is higher today. It is 1.0100 / 08 April and May High and 1.0145 78.6% retracement. For a long time it is considered to be the last defense for 1.0335 January 2017. International rallies are expected to keep below the level of 8998 and suggesting the slide below. December 7, December and beyond.
"The only failure in 9 .705, will be less, in mid-October, the target will be 9 553 June 30 low and potential .9421 September."
