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

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.”