USD/CHF: Expected sell-off – Commerzbank

USD/CHF as expected the erosion of the 55 day ma acted as a catalyst for a sell off. The pair is trading at 0.9658. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, analyzes the USD/CHF technical outlook for the days ahead.

Key quotes

“Our attention has reverted back to the .9613 January low and the September 2018 low at .9543. Our bias remains negative.”

“The market remains capped by tougher resistance at .9841/44, the September and October lows and the 200 day ma at .9950 and while capped here we are bearish. Initial resistance is .9767, the 29th January high.”