USD/CHF: technically negative - Commerzbank

Analysts at Commerzbank explained their technical outlook for USD/CHF.

Key Quotes:

"Near term outlook – negative."

"The market has severed its 4-month uptrend at 1.0032 and is directly offered below the 1.0058 55 day moving average. We look for losses back to the 0.9918 200 day ma and possibly the 0.9880/50 region once more."

"Where are we wrong? 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. Short Term Trend (1-3 weeks): Based circa .9880/50. Long-term trend (1-3 months): The 1.0328 2015 high and above here longer term 1.0635, the top of a 2-year channel."

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.