According to Karen Jones, Analyst at Commerzbank, the USD/CHF pair is likely to remain on the defensive and could be headed back to the 55 week ma support near the 0.9655 region.
“USD/CHF’s recent bounce off its current January low at .9700 has eroded the December 20 low at .9830, but not sustained the move higher and already appears to have lost upside steam. The near term risk is for a slide back to the 2015-2018 support line at .9690 and the .9655 55 week ma, these may well hold the initial test. Only below here would introduce potential for .9553 June 30 low and the .9421 September low.”
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.