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CHF is seeing some weakness as the USD/CHF pair reverses ahead of the 55-day moving average at 0.9173. Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects USD/CHF to rebound towards the 0.9300 level.

USD/CHF to remain bid above the 0.9100 200-day ma and the 0.9035 uptrend  

“USD/CHF’s slide lower appears to be reversing just ahead of the 55-day ma lies at 0.9173 and currently is looking for a rebound to the 0.9300 region.”  

“Below 55-day ma lies the 200-day ma at 0.9100 just ahead of the uptrend at 0.9035. We would expect this to contain the move lower.”

“Initial resistance is the 0.9296 September 2020 high. Key nearby resistance lies at 0.9467/72 (highs from July).”

 

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