FX & CFD trading involves significant risk
USD/CHF likely to reach 0.9595 near term – Commerzbank. The cross is resuming the negative sentiment that prevailed last week along with a weaker greenback, trading on Monday well below the 0.9400 level. K.Jones, analyst at Commerzbank, remarks that a breach of 0.9295 (close to 2012 low at 0.9306) could leave the pair well exposed for further downside eyeing levels at 0.9250-02 and then 0.9080-66
Although risk-on trade has been sharpening since last week, any disappointing news from the euro zone could suddenly shift the investors’ appetite towards safe havens, and in that case she affirms that “rallies will need to regain 0.9410-50 intraday in order to alleviate immediate downside pressure and signal a retest of the 0.9595 recent high”.
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