FXStreet (Edinburgh) – In view of Axel Rudolph, Senior Technical Analyst at Commerzbank, the pair could attempt a consolidative pattern in the near-term.
Key Quotes
“USD/CHF has not sustained the move above the 1.0212/78.6% retracement and may need to consolidate further very near term”.
“Currently the 1.0295 and the 1.0328 recent highs remain in focus”.
“A close above this latter level will introduce scope to 1.0732 longer term, the 78.6% retracement of the move from 2010 to 2011”.
(Market News Provided by FXstreet)