USD/CHF: New rebound at the near-term support line at 0.9645 – Commerzbank
|USD/CHF has again bounced from the short-term uptrend, which today is located at 0.9645, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, briefs. The pair trades at 0.97123 at the time of writing.
Key quotes
“It is possible that the market will retest the 200-day ma at 0.9786, however, we suspect that this will hold the topside. Uptrend support guards the April and current May lows at 0.9597/89.”
“Below 0.9597/89 lies the 0.9501 support and 0.9457, the 61.8% Fibonacci retracement. The market is side lined but offered near-term within this range.”
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.