USD/CHF offered below 1.0062/84 – Commerzbank

According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the near term outlook on USD/CHF is now negative and remains offered below the 1.0062/84 area.

Key Quotes

“The market has recently failed at 1.0159, the 61.8% retracement of the move down from December, it has now severed its 4 month uptrend and is directly offered below the 1.0062/84 20 and 55 day moving averages. We look for losses back to the .9916 200 day ma and possibly the .9880/50 region once more”.

“Only above 1.0084 would alleviate downside pressure and retarget 1.0248 11th January high and the 1.0328 2015 and 1.0344 December 2016 highs”.