USD/CHF: Good support remains at the 0.9100 mid-August low – Commerzbank

USD/CHF has failed at the 0.9337 downtrend. The pair is trading into its previous 0.9100-0.9274 range but only below 0.9167 would alleviate upside pressure, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.

USD/CHF has failed on its initial test of the 2019-2020 downtrend at 0.9337 

“USD/CHF continues to back away from the 2019-2020 downtrend at 0.9337. It has slid back into its previous range 0.9100-0.9274.”

“The pair will have to slide back below the 55-day ma at 0.9167 to alleviate immediate upside pressure.” 

“Good support remains the 0.9100 mid-August low and the 200-day ma at 0.9098 and this guards the 2021 uptrend at 0.9047.”