USD/CHF expected to hold around 0.9950 – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the decline of USD/CHF should find support in the mid-0.9900s.

Key Quotes

“USD/CHF’s correction lower has sold off to to the 200 day ma at .9951, which is expected to hold. Provided it holds over the 200 day ma an upside bias will remain and this will remain a correction only. We target in the 1.0248 11th January high and the 1.0328 2015 and 1.0344 December 2016 highs”.

“The market is bid above the 200 day ma at .9950 and is generally well supported in the .9860/14 zone”.

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.