Search ForexCrunch

Karen Jones, Team Head FICC Technical Analysis at Commerzbank, noted that bullish attempt in the pair should meet interim resistance in the 0.9800 neighbourhood.

Key Quote

USD/CHF saw a key day reversal on Tuesday from .9659 and we have temporarily exited our short positions as we perceive a lack of interest in sustaining a break below the .9716/.9692 key support presently. This is the location of the 25th June low, the January low and Fibo support and below .9659 targets the .9543 September 2018 low”.

“Interim resistance is the .9805 22nd July low. Key resistance remains the 200 day ma at .9964, our bearish bias is entrenched below here. Longer term we target .9211/.9188, the 2018 low”.