USD/CHF offered below 1.0048 – Commerzbank

Pablo Piovano FXStreet

In view of Axel Rudolph, Senior Technical Analyst at Commerzbank, USD/CHF’s outlook stays negative while below 1.0048.

Key Quotes

“Last week the market severed its 4 month uptrend, now at 1.0043, and remains directly offered below the 1.0048 55 day moving average. We look for losses back to the .9921 200 day ma and possibly the .9880/50 region once more”.

“Only above 1.0062 would alleviate downside pressure and retarget 1.0248 11th January high and the 1.0328 2015 and 1.0344 December 2016 highs”.

1 Week
1 Month
1 Quarter

1 Week

Avg Forecast 0.9940

33% Bullish
67% Bearish
0% Sideways

Bias Bearish

1 Month

Avg Forecast 1.0178

62% Bullish
23% Bearish
15% Sideways

Bias Bullish

1 Quarter

Avg Forecast 1.0215

69% Bullish
15% Bearish
15% Sideways

Bias Bullish

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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