USD/CHF appears supported at 0.9800 – Commerzbank

By FXStreet FXStreet (Edinburgh) – According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could be well supported around the 0.9800 handle.

Key Quotes

“USD/CHF has sold off and eroded the 55 day ma – it has also eroded the .9868 2015 uptrend, but we suspect it will struggle to maintain losses at this point below .9800”.

“Below the market we find the 3 month uptrend at .9703 and the 200 day ma at .9655.We have conflicting intraday signals at this point and we will simply exit our remaining shorts and wait for another signal”.
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Source:: FX Street