Flash: Unable to rule out further weakness - Commerzbank

FXstreet.com (London) - In the opinion of Commerzbank, the USD/CHF’s correction lower has extended lower towards the 200 day ma at 0.9358, the intraday charts have turned more negative and at this stage they are unable to rule out further weakness to the 0.9324 2013 uptrend, which we look to ideally hold.

They said, provided that dips hold over 0.9324 uptrend, the longer term bull move is intact. Intraday rallies are likely to find minor resistance at 0.9650, 0.9684. Above here, they say should re-focus attention on to the 0.9840 May high and the target remains the 0.9972 2012 high.