Forex Flash: USD/CHF favors further recovery - Commerzbank

FXstreet.com (Barcelona) - Commerzbank analysts favor further recovery as the USDCHF climbs higher this week and a base may be placed just ahead of the 0.9215 October low. "Initial resistance is offered by the 55 and 200 day moving averages at 0.9353 and 0.9415, but we should see an eventual retest of the 0.9505/13 recent highs and resistance", wrote analyst Karen Jones, pointing also to the less favored scenario of a breach below the 0.9215 October low that will target 0.9105 (61.8% retracement from the move up from the October 2011 low).