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USD/CHF aims 0.9775 in 1-3 months.
The present week has seen the cross dives from 0.9575 on Monday to today’s low at 0.9306 so far, despite a small recovering going on now as the greenback is gaining some ground. K.Jones at Commerzbank remarks that the pair is under pressure after a failed attempt to break through 0.9595 and she also cited the imperative need to trade back to 0.9415 as a condition to ease downside pressure.
With the headlines in the euro zone being susceptible to shifts in any direction and at any time, the cross could well gain upward traction again should the events from Greece don’t unveil the desired results in a convenient period of time. “Above 0.9595 targets 0.9774-84 (2011 high). Above here will target the 0.9950 61.8% retracement of the move down from 2010” she added.
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