Forex Flash: USD/CHF hard to trade right now - Commerzbank

FXstreet.com (Barcelona) - A limp rebound of rebound of the USDCHF, with supports at 0.9240 and 0.9215, leave Commerzbank analysts unable to rule out a possible expanding base pattern. "These are hard patterns to identify (and even harder to trade) as the market breaks to new lows but does not sustain the move)", wrote analyst Karen Jones, pointing to the base of this expanding triangle at circa 0.9180 and downside viewed as pretty limited.

"Initial resistance is offered by the 55 and 200 day moving averages at 0.9353 and 0.9417, but we should see an eventual retest of the 0.9505/13 recent highs and resistance", added Jones.