Forex Flash: USD/CHF basing, with intraday support at 0.9245/10 - Commerzbank

FXstreet.com (Barcelona) - As the USDCHF continues to ease back near term from the 0.93835 December high, Commerzbank analysts would allow for some minor slippage to 0.9240, but viewed as corrective only. "Above 0.9390, the initial upside target is the 0.9437 200 day moving average and then 0.9513/25, the 50% retracement and November high", wrote analyst Karen Jones, suspecting that the market is basing slightly longer term. "We have recently seen this market repeatedly fail to close below 0.9104 over the past few weeks, (this is the 61.8% retracement of the move seen in 2012)", she said, pointing to intraday dips circa 0.9245/10.