According to today’s Commerzbank USDCHF analysis by Karen Jones, USDCHF remains BiD.
September 3, 2019 | AtoZ Markets – Today’s Commerzbank USD/CHF analysis commentary by Karen Jones, suggests that the pair remains Bid. The pair could test its 200 day MA at 0.995 zone and even possibly its August highest High of 0.9975 level.
Furthermore, the analysis covered the following commentaries:
“We should see failure here and a slide back to key support at .9716/.9659 (location of the 13th August low, 25th June low, the January low and Fibo support). Below .9659 (last week’s low) targets the .9543 September 2018 low.”
Commerzbank USDCHF long-term price targets
Based on Karen Jones’ analysis, long-term Commerzbank USDCHF price targets are rather bearish, towards 0.9211 and 0.9188 zone which was the low of 2018.
USDCHF bullish scenarios
Although Commerzbank is mostly bearish on USDCHF, they don’t ignore possible bullish breakout.
May the pair break above the 0.9975 resistance level, which was also the August high, we could then expect the pair march towards the mid-June high at 1.0014 and 1.0123/78.6% retracement according to the latest Commerzbank analysis.