USD/CHF rallies are seen struggling at 0.9790 – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, occasional rallies in the pair are expected to run out of legs in the 0.9790 area.

Key Quotes

“USD/CHF continues to consolidate around.9700. Rallies are indicated to terminate circa .9790. This leaves the market vulnerable to losses back to the 0.9640 29th September low. Failure here would allow for a slide to the .9538 August low, but the bottom of the range is regarded as the 200 week ma at .9452 and we look for this to hold”.

“Rallies are expected to struggle .9790 and will need to regain .9820/45 for another shot at 1.00 to be viable”.

To learn more about this topic, check our video analysis: