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Forex pairs in this Article » USD/CHF (London) - USD/CHF remains on the defensive, and with little data other than Fed speeches attention has shifted to the 0.8891 recent low.

Strategists at Commerzbank noted that with the 0.8862 38.2% retracement from the 2011 low represent major support, the downside is likely to hold. They note that the downtrend is at 0.9126. “We note the 13 count on the 240 minute chart and intraday charts are suggesting that we should see a small rebound to 0.8975/0.9020. A close above the 0.9126 resistance line is needed to alleviate immediate downside pressure and trigger a recovery to the 100 day ma at 0.9160”.

USD/CHF Levels

The 20 DMA is 0.9091, the 50 DMA is 0.9068 and the 200 DMA is 0.9305. RSI (14) reads 35.39. Supports are 0.8863, 0.8871, 0.8891 and the first support comes in at 0.8910. Spot is currently 0.8921 with resistances 0.8957, 0.8985, 0.9021 and 0.9050.
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