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."