According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could attempt a bounce towards the 0.9800 handle. Key Quotes “USD/CHF last week sold off towards the 2015-2016 uptrend at .9635”. “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 approximately the 200 day ma at .9799”. “In order to reverse the damaging sell off the market will have to regain this moving average on a closing basis”. For more information, read our latest forex news.