Commerzbank > $EURUSD uptrend looking shaky, with a daily close tonight below 1.3724 being enough to undermine near-term stability and re-target the recent 1.3145 low

$USDCHF uptrend has been broken, says Commerzbank, focus now shifts to 0.8760 this level needs to hold for near-term stability, if it doesn't then 0.8505 will be targeted, big resistance comes in at 0.9043

Commerzbank unconvinced that Wednesday's measures will mark the turning point in the euro-zone crisis saying that the Greek debt reduction should remove concerns about a forced restructuring and see risk-on trading near term but the bank sticks with its view of significantly lower bund yields and wider intra-EMU spreads into year end

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Commerzbank > $EURUSD Risk is toward 1.3652 (mid Oct lows) A daily close below that level would retarget the recent 1.3145 lows. The failed attempt at 1.4255 confirms the uptrend has now ended

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Commerzbank > Investors should be "extremely careful with shorts in $EURCHF," given the renewed tumult around Greece. Recent market moves suggest that the SNB might have intervened but Commerzbank adds that clarity is only expected in late January, when the SNB will publish data on currency reserves. The SNB declined to comment.

Commerzbank > $EURUSD consolidation likely, but intraday rallies should be capped by 1.3855 or 1.3930. Once the air clears then the downside will be back in favor, with a break below 1.3652 support targeting 1.3566, and then the September end low of 1.3360

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Commerzbank $USDCHF overcomes 0.9082, the pair will be poised up to 0.9317 (October high) and 0.9341/99

ommerzbank> Outlook for $EURUSD remains negative, as the rebound seen late last week failed to take out any resistance of note, look for last week's 1.3870 high to cap any further rallies, while on the downside first target is the 1.3380-1.3360 area, with interim support coming in at 1.3685 and 1.3650

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Commerzbank > EUR will continue to struggle, because of the deterioration of market sentiment. "The [European debt] crisis is deepening without the arrival of further bad news...Neither the European nor US consumer prices are likely to move markets much today," says the bank.

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Commerzbank expect $AUDUSD to fall to 0.9688 and plan to take profit at the level. If the market runs lower, the next target will be 0.9388 (Oct lows

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$EURUSD downside favored while 1.3454 caps, says Commerzbank, although the October low of 1.3145 should hold on a first attempt. If that fails then the 2011 low of 1.2860 comes into play. Alternatively, although not favored, above 1.3454 opens topside risks toward the 1.3835-1.3880 resistance band.

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