USD/CHF: Strong downside potential - Natixis
|The sell signals on the daily indicators and the downside parallels on the weekly chart underline strong downside potential for the USD/CHF cross, according to Micaella Feldstein, Research Analyst at Natixis.
Key Quotes
“Against this backdrop, rallies should be short lived and we see a deeper decline to 0.9523 (quarterly Bollinger moving average) ahead of 0.94540.9470 (monthly Bollinger lower band).”
“We’ll be vigilant as a break below these last supports would signal a strong deterioration in the MT technical patter, unleashing added downside potential to 0.9267-0.9280 (quarterly parabolic). The resistances are at 0.9593-0.96, at 0.9640, at 0.97 and at 0.9736-0.9750.”
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