USD/CHF remains under pressure – Commerzbank

Pablo Piovano FXStreet

Senior Technical Analyst at Commerzbank Axel Rudolph noted the pair has come under renewed pressure as of late.

Key Quotes

“USD/CHF’s recent rally terminated at the 50% retracement at .9772 and the market is back under pressure: The market has recently been rejected by the .9770 mid-June high and slipped to .9583 last week, before recovering slightly. Failure there would imply a return visit to the .9444/39 recent low and May 2016 low”.

“Below .9444 targets the .9072 May 2015 low”.

“Short term the mid-July high at .9700 could be retested, however”.

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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