USD/CHF scope for a visit to 0.9072 – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the recent sell-off has opened the door for a potential test of the 0.9070 region.

Key Quotes

“USD/CHF has eroded the base of its 2017-2018 down channel at .9231 and a long term Fibonacci retracement at .9200 this introduces scope to 09072 the May 2015 low. Nearby resistance is offered by the 20 day ma at .9366. It will need to clear this level and preferably the .9470 8 th April high to restore upside pressure”.

“Above .9470 would allow for recovery to .9530/.9615”.