USD/CHF now looks to 0.9444 – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the outlook on the pair as negative, facing a potential test of 0.9444.

Key Quotes

“USD/CHF near term outlook is negative. The market failed last week to overcome .9700 and yesterday failed to make any impression on the 20 day ma at .9613. It has recently eroded the 200 week ma at .9559 and we have the 2016 low at .9444 in its sights. Failure here will target the .9072 May 2015 low”.

“In order to negate downside pressure and restore the up move the market will need to close above the .9814 end of March low”.