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Near term consolidation expected in USD/CHF - Commerzbank

FXStreet (Łódź) - Karen Jones, analyst at Commerzbank observes that USD/CHF is trading near the the .9690 level, the 6th October high tested overnight.

Key quotes

"This is is currently holding and we would allow for some near term consolidation."

"Last week sold off to and rebounded from the 2 month uptrend, which today is located at .9463 and while underpinned here an upside bias is maintained."

"It starts this week well placed to overcome the .9690 6th October high."

"We continue to target .9840, the 2013 high, then .9966/72, the 2012 high and the 61.8% retracement."

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