USD/CHF negative below 1.0014/28 – Commerzbank

The outlook on USD/CHF is expected to remain offered as long as the 1.0014/28 band caps the upside, suggested Axel Rudolph, Senior FICC Technical Analyst at Commerzbank.

Key Quotes

“USD/CHF is heading back up to the .9984/96 mid-September and midOctober highs. While it remains below theslightly higher 1.0014/28 midJune and October peaks on a daily chart closing basis, we will continue to target the .9844/41 September and October lows. Failure at the next lower .9799 September low would push key support at .9716/.9659 to the fore. This is the location of the January, June, mid- and late August lows. Below here sits the .9659 August low and the September 2018 low at .9543”.