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16 May 2013
Forex Flash: USD/CHF is faltering just ahead of its next resistance at 0.9769/72 - Commerzbank
FXstreet.com (London) - With the pair oscillating towards the figure, having broken it earlier on in the European session, Karen Jones, analyst at Commerzbank says this is the location of the 78.6% retracement and the June 2012 high.
She explains that this is regarded 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.
She explains that this is regarded 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.