USD/CHF could slip back to 0.8703/0.8698 – Commerzbank

Pablo Piovano FXStreet

Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, noted USD/CHF risks a potential drop to the 0.8700 region.

Key Quotes

“USD/CHF has maintained downside pressure to slide into new 5 year lows. Attention is on .8943 (TD support) and failure at here (and preferably a close) is needed to introduce scope to the .8703/.8698 2014 lows.”

“Resistance lies .9094/.9136, the four month downtrend and while capped here a negative bias will persist.”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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