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17 May 2013
Flash: USD/CHF – market temporarily falters - Commerzbank
FXstreet.com (London) - The research team at Commerzbank have noted USD/CHF no change, and that the market is faltering just ahead of its next resistance at 0.9769/72.
They say this is the location of the 78.6% retracement and the June 2012 high. They also have regarded this as the last defence for the 0.9950/1.000 long term resistance and that this is the location of the 2012 high, the 61.8% retracement of the move down from 2010 and psychological resistance. They expect that dips lower are likely to find that good support on pullbacks to the 0.9540/0.9490 and the previous resistance line now acts as support at 0.9467.
They say this is the location of the 78.6% retracement and the June 2012 high. They also have regarded this as the last defence for the 0.9950/1.000 long term resistance and that this is the location of the 2012 high, the 61.8% retracement of the move down from 2010 and psychological resistance. They expect that dips lower are likely to find that good support on pullbacks to the 0.9540/0.9490 and the previous resistance line now acts as support at 0.9467.