Forex Flash: USD/CHF downside exhausted after failure to close below 0.9104 - Commerzbank

FXstreet.com (Barcelona) - Failure to close below the 0.9104 (61.8% retracement of the move seen this year.) allows for a small correction higher near term to 0.9188 then 0.9215/40 "where we would expect the rally to peter out (these are lows from September and October)", said Commerzbank analysts.

"Failure circa 0.9250 will leave the market weighing on the downside towards the 0.9043 May low and the 0.8931 2012 low", wrote analyst Karen Jones, expecting the double Fibonacci retracement at 0.8862/68 to stabilize the market.