USD/CHF stays on the defensive below 0.9990 – Commerzbank

In view of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, the outlook on USD/CHF stays negative while capped by 0.9990.

Key Quotes

“USD/CHF continues to ease back from the downtrend at .9990, while capped here it remains on the defensive. A close below .9844 will increase the risk of a deeper sell off (favoured)”.

“Failure at the next lower .9799 September low would push key support at .9716/.9659 to the fore. It is the location of the January, June, mid-and late August lows. Below here sits the .9659 August low and the September 2018 low at .9543”.