USD/CHF: Expected sell-off – Commerzbank
|USD/CHF as expected the erosion of the 55 day ma acted as a catalyst for a sell off. The pair is trading at 0.9658. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, analyzes the USD/CHF technical outlook for the days ahead.
Key quotes
“Our attention has reverted back to the .9613 January low and the September 2018 low at .9543. Our bias remains negative.”
“The market remains capped by tougher resistance at .9841/44, the September and October lows and the 200 day ma at .9950 and while capped here we are bearish. Initial resistance is .9767, the 29th January high.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.