USD/CHF on its way to 200-DMA at 0.9660? - Commerzbank

Karen Jones, Analyst at Commerzbank, offers the key technical levels for trading USD/CHF in the day ahead.

Key Quotes:

“USD/CHF Resistance line at .9566 has seen a slight erosion of the 4-month resistance line at .9466/70. Not enough to reignite topside interest, but enough to stop out our short positions. We are neutral to positive while above the 14th March low at .9425. The move above .9570 allows for a rally to the 200-day moving average at .9660. |We are still of the opinion that the cross formed a bottom at .9188.

Failure .9425 will allow for slippage towards the next lower support at .9339/25 (the late February and current March lows).

Short-Term Trend (1-3 weeks): Probing the four-month resistance line and channel mid-point.”