USD/CHF could attempt a rebound – Commerzbank

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the 0.9290 area is expected to hold, while the likeliness of a rebound stays on the cards.

Key Quotes

“USD/CHF continues to weigh on the downside and the focus is on its current January low at .9290. Directly below here lies the August 2015 low at .9260 and the base of a one year down channel at .9252, which may still be reached on a slip through the .9290 level. However we would expect to see this hold the downside and provoke reversal”.

“The near term risk of reversal remains quite high, given the number of 13 counts on the intraday charts this is considered to be a strong possibility”.

“Resistance now comes in at .9421/39, between the July, August and September 2017 lows. The cross will be directly offered below the .9491 accelerated downtrend line”.