USD/CHF to suffer a substantial drop to the 0.9073 mark – Commerzbank

USD/CHF’s sell-off has examined the 55-day transferring common (DMA) at 0.9204. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects the pair to slide again to the 2020-2021 uptrend at 0.9073.

USD/CHF provided under 0.9313
“USD/CHF has offered off to the 55-DMA at 0.9204, which has held the preliminary test. However, near-term the market is predicted to see a deeper corrective promote off (the intraday Elliott wave depend stays negative) to the 0.9134 200-DMA and probably the 2020-2021 uptrend at 0.9073.”

“Rallies are predicted to stay capped by way of the 0.9313 mid-October high. This guards 0.9357/69 (recent high).”

 

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