USD/CHF has eroded the base of its range – Commerzbank

Karen Jones, an analyst at Commerzbank offers key technical levels for trading USD/CHF ahead of the key Fed decision.

Key Quotes:

“USD/CHF is eroding the .9844/41 September and October lows.

We consider the market to be vulnerable as we note the confirmed sell signal on the DMI and it remains capped by the 55- and 200-day ma at .9925/44.

Failure at .9830 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.”