USD/CHF: Rallies to capped by 200-DMA at 0.9781? - Commerzbank

In the view of Karen Jones, Analyst at Commerzbank, the USD/CHF pair will continue to face stiff resistance at the 200-DMA of 0.9781

Key Quotes:

“USD/CHF is seen bouncing off its current January low at .9700. Failure there would target the .9553 June 30 low and potentially the .9421 September low. Rallies should find resistance between the 200-day ma at .9781 and the December 20 low at .9830.”

“The market is offered below the .9830 20 December low which guards the more important .9975 78.6% Fibo retracement.”