2 Jun 2014
USD/CHF consolidation ahead? – Commerzbank
FXStreet (Edinburgh) - The recent failure around its 200-d MA might be indicative of some sort of consolidation lying ahead for the USD/CHF, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“USD/CHF last week rallied to and saw initial failure at its 200day moving average at .8986”.
“It starts this week likely to consolidate /ease back further from this key resistance”.
“We note the 13 count on the 240 minute chart, TD resistance at .9000 and both the slow stochastic and daily RSI have rolled over and these all suggest some consolidation”.
Key Quotes
“USD/CHF last week rallied to and saw initial failure at its 200day moving average at .8986”.
“It starts this week likely to consolidate /ease back further from this key resistance”.
“We note the 13 count on the 240 minute chart, TD resistance at .9000 and both the slow stochastic and daily RSI have rolled over and these all suggest some consolidation”.