USD/CHF to extend its correction lower to the 0.9215 mark – Commerzbank


Share:

The USD/CHF pair is correcting lower and Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the slide to reach the mid-March low at 0.9215.

USD/CHF to stay bid above the 200-day ma at 0.9105

"USD/CHF is correcting lower near-term and we would allow for a slide to the mid-March low at 0.9215.” 

“The Elliott wave count on the daily chart is implying losses towards 0.9170 and there is scope for the 200-day ma at 0.9105.”

“Key nearby resistance lies at 0.9267/72 (highs from July).” 

“Above 0.9472 lies the 50% retracement of the 2019-2021 decline at 0.9499.” 

“Above 0.9500 we are unable to rule out a move to the 200-week ma at 0.9661.”

 

Share: Feed news

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 assets. 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 Open Markets 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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content

Editors’ Picks

EUR/USD languishes near its lowest level since March, trades just above mid-1.0500s

EUR/USD languishes near its lowest level since March, trades just above mid-1.0500s

The EUR/USD pair enters a bearish consolidation phase and oscillates in a narrow range near its lowest level since March 16, around the 1.0555 area touched during the Asian session on Wednesday.

EUR/USD News

GBP/USD extends losses below 1.2150 on hot US data, focus shifts to Core PCE, UK GDP

GBP/USD extends losses below 1.2150 on hot US data, focus shifts to Core PCE, UK GDP

GBP/USD continues the losing streak that began on September 20, trading below 1.2150 during the Asian session on Wednesday. Upbeat economic data from the United States (US) reinforces the prevailing pressure on the pair.

GBP/USD News

Gold price remains vulnerable near one-month low on bullish USD, Fed rate hike bets

Gold price remains vulnerable near one-month low on bullish USD, Fed rate hike bets

Gold price shows some resilience below the $1,900 mark during the Asian session on Wednesday, albeit struggles to register any meaningful recovery from over a one-month low touched the previous day. 

Gold News

Litecoin price is failing recovery as Whales pull back to December 2020 lows

Litecoin price is failing recovery as Whales pull back to December 2020 lows

Litecoin price was showing some signs of recovery about two weeks ago, but it failed to sustain the bullish momentum, resulting in minor corrections. While broader market cues are to be blamed for this, a lot of the credit goes to the whales, too, whose disappointing performance has impacted the altcoin.

Read more

U.S. government shutdowns & U.S. Dollar implications

U.S. government shutdowns & U.S. Dollar implications

A potential U.S. government shutdown that could start October 1st looms, the chances of which are more or less seen as a coin flip at this point. Should a shutdown transpire, there could be a negative impact of the U.S dollar, albeit one that is likely to be modest and short-lived.

Read more

Forex MAJORS

Cryptocurrencies

Signatures