Forex Flash: USD/CHF break lower unsustained - Commerzbank
Forex pairs in this Article » USD/CHF
FXstreet.com (Barcelona) - The USDCHF didn't close below 0.9280/64 (78.6% retracement and the 2012 support line), with following support at 0.9215 October low. "Coupled this with a TD perfection on the daily chart and we suspect this break lower will not be sustained (this suggests that the market has an increased likelihood of recovery in this vicinity)", wrote analyst Karen Jones, expecting a retest of the 0.9505/13 recent highs and resistance provided that the market stabilizes ahead of 0.9215, still regarded as an interim low. "Below the 0.9215 October low will target 0.9105 the 61.8% retracement from the move up from the October 2011 low", Jones added.