USD/CHF could rebound towards 0.9796 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the possibility that the pair could re-test the vicinity of 0.9800.

    Key Quotes

    USD/CHF has sold off further, extending losses towards the 2015-2016 uptrend at .9630”.

    “We look for this to hold the initial test, the .9661 February low is found here and the 78.6% retracement and we would allow for a near term rebound back towards the 200 day ma at .9796”.

    “In order to reverse the damaging sell off the market will have to regain this on a closing basis”.
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