Karen Jones, analyst at Commerzbank, suggests that USD/CHF remains bid and capable of challenging the 200 day ma at .9953 and August high at .9975.
Key Quotes
“We should see failure here and a slide back to key support at .9716/.9659 (location of the 13th August low, 25th June low, the January low and Fibo support). Below .9659 (last week’s low) targets the .9543 September 2018 low.”
“Longer term we target .9211/.9188, the 2018 low.”
“Above the .9975 August high lies the mid-June high at 1.0014 and 1.0123/78.6% retracement.”
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