USD/CHF: Small recovery in store - Commerzbank

Sandeep Kanihama FXStreet Contributor

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.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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