Karen Jones, Head of FICC Technical Analysis at Commerzbank, believes the pair could visit the 0.9800 handle.
Key Quotes
“USD/CHF has sold off to and continues to rebound from the 2015-2016 uptrend at .9640”.
“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 .9803”.
“In order to reverse the recent damaging sell off the market will have to regain this moving average on a closing basis”.
(Market News Provided by FXstreet)