USD/CHF to target the 2014 lows at 0.8703/0.8698 on a failure at 0.8943 – Commerzbank

Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, continues a impartial to bad bias on the USD/CHF pair whilst it trades under the four-month downtrend at 0.9162. Targets are 0.8703/0.8698, the 2014 lows.

Key quotes
“USD/CHF stays capped by means of a four-month downtrend at 0.9162 and whilst capped right here is viewed as impartial to negative.”

“The pair has these days reversed from 0.8983, however, this has now not overcome any resistance of notice and interest has reverted again to this low.”

“The current low at 0.8983 guards 0.8943 (TD support).”

“Failure at 0.8943 is wanted to introduce scope to the 0.8703/.8698 2014 lows.”

“Minor guide is considered at the 0.9048/31 September 10 and October troughs.”

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