FXStreet (Barcelona) – Karen Jones, Head of Technical Analysis at Commerzbank, maintains a sell position on USD/CHF, targeting 0.8850 levels, with the pair having broken below the 0.9266 uptrend.
Key Quotes
“USD/CHF has eroded the 2015 uptrend at 0.9266 and in doing so has left the market on the defensive. Support at .9234, the recent low, has been eroded and we look for a slide back to circa 0.9175 and then the .9072/70 recent low and Fibonacci retracement.”
“Recommended Trade: Sell .9230, add .9300, stop .9420. Exit .8850.”
(Market News Provided by FXstreet)