USD/CHF: Downside looks contained around 0.9115 – Commerzbank

According to Axel Rudolph, Senior FICC Technical Analyst at Commerzbank, the decline in USD/CHF should meet a contention area around 0.9115, where the 2020-2021 uptrend sits.

Key Quotes

“USD/CHF has reached .9368, the September high, and made its current November high at .9373 before swiftly coming off again and slipping towards the 200 day ma at .9180. The current short-term downside should be contained by the 2020-2021uptrendat.9115.”

“On the way lies .9150, the October 25 low.”

“If .9373 and the next higher early March high at .9375 were to be overcome, the April peak at .9472 would be next in line.”