USD/CHF could slip back to the 0.9980 area – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pullback in the pair could extend to the 0.9980 region.

Key Quotes

USD/CHF has reached the 55 day ma at 1.0108 and halted there, currently we would allow for slippage to .9985 the 20 day ma, prior to another upside attempt, we note the TD perfected set up on the daily chart. 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)”.

“While above 1.00/.9985 we would expect it to generate some upside interest to 1.0248 11th January high and the 1.0328 2015 and 1.0344 December 2016 highs”.

 

  TREND INDEX OB/OS INDEX VOLATILY INDEX
15M Slightly Bullish Overbought High
1H Bullish Overbought High
4H Bearish Neutral High
1D Bullish Neutral Low
1W Bearish Neutral Shrinking

 

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 securities. 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 Forex 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.