Forex Flash: USD/CHF to extend gains to 0.9434 and 0.9513/25 - Commerzbank

FXstreet.com (Barcelona) - The USDCHF inches higher following the break through its downtrend and close above the 0.9303 high: "We look for further gains on the topside. Initial upside target is the 0.9434 200 day moving average and then 0.9513/25, the 50% retracement and November high"; wrote analyst Karen Jones, suspecting a basing market over the 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)", Jones added, pointing to intraday dips around 0.9245/10.