USD/CHF: vicious sell-off should stabilise near 0.9945/25 - Commerzbank
|Following the USD/CHF pair's recent sharp reversal from nearly one-month tops, Karen Jones, technical analyst at Commerzbank, provides a near-term technical outlook and foresee the selling pressure to abate near 0.9945-25 region.
Key Quotes:
"USD/CHF has seen rejection from the 55 day ma at 1.0105 and is correcting lower, currently we would allow for slippage to .9945/25 the uptrend, prior to another upside attempt. We view the market as having based recently at the .9861 low, (we suspect that the market has turned at the 200 day ma and the 55 week ma)."
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.