USD/CHF: Small recovery in store - Commerzbank
|Karen Jones, Analyst at Commerzbank, notes that the USD/CHF is seeing a small recovery from the 38.2% retracement at .9904 and suggests that the move will struggle after extending to the 1.0000/1.0025 region.
Key Quotes
“The recent high at 1.0128 is viewed as an interim peak. We look for losses back to the late June and July lows at .9868/56, and the 200 day ma at .9821, where we would expect the market to attempt to stabilise.”
“Long term trend (1-3 months): Has topped, looking for a slide to the 55 and 200 week ma at .9780/75.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.