USD/CHF stays offered below the downtrend at 0.9963 – Commerzbank

In view of Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, the pair still looks offered as long as it trades below the 0.9963 level.

Key Quotes

“USD/CHF despite the recovery, the market remains offered while capped by the .9963 6 month downtrend and attention on the .9844/41 September and October lows. Failure at the next lower .9799 September low would push key support at .9716/.9659 to the fore. This is the location of the January, June, mid- and late August lows. Below here sits the .9659 August low and the September 2018 low at .9543”.