USD/CHF remains under pressure – Commerzbank

Sandeep Kanihama FXStreet Contributor

In view of Karen Jones, analyst at Commerzbank, USD/CHF remains under pressure following its recent failure ahead of its 50% retracement at .9967 and the 200 day ma at .9983.

Key Quotes

“This is tough resistance for the market and we suspect that the market has topped here - and we look for further losses to .9695 25th June low. Above the 200 moving average lies the mid-June high at 1.0014. Longer term we target .9211/.9188, the 2018 low, though.”

“Only a close above 1.0014 (high 19th June) would alleviate immediate downside pressure and target 1.0097 and possibly 1.0128 before failure again (November and March highs at 1.0124/28).”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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