According to Karen Jones, analyst at Commerzbank, USD/CHF is seeing a bounce from the .9844/41 September and October lows, but these remain exposed.
Key Quotes
“A negative bias is maintained while capped by the downtrend at .9985. 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.”
“The market is negative. Above the mid-June high at 1.0014/28 on a closing basis targets the 1.0128 mid November 2018 high and the 1.0240 April high.”
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