USD/CHF: Downside opening up towards 0.9652 - Natixis

Analysts at Natixis provide a brief technical outlook for trading USD/CHF over short to medium-term.

Key Quotes:

"Even though we don’t rule out rallies, they should be short lived as a downside channel has emerged on the daily chart and as the weekly indicators remain bearish.

Against this backdrop, we expect the cross to retreat to 0.9890-0.9903 (daily Bollinger lower band) and the support at 0.9860 (monthly Bollinger moving average).

Caution will be in order close to this last support as its break would underpin bearish impetus to 0.9652 (weekly Bollinger lower band and rising trend line).

The resistances are at 0.9970-0.9995, at 1.0060, at 1.0144, at 1.0220, at 1.0270 and at 1.0320."