USD/CHF: vicious sell-off should stabilise near 0.9945/25 - Commerzbank

Following the USD/CHF pair's recent sharp reversal from nearly one-month tops, Karen Jones, technical analyst at Commerzbank, provides a near-term technical outlook and foresee the selling pressure to abate near 0.9945-25 region. 

Key Quotes:

"USD/CHF has seen rejection from the 55 day ma at 1.0105 and is correcting lower, currently we would allow for slippage to .9945/25 the uptrend, prior to another upside attempt. We view the market as having based recently at the .9861 low, (we suspect that the market has turned at the 200 day ma and the 55 week ma)."