Trading Forecast USD/CHF
April 29, 2011 8:09 AM GMT
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| USD/CHF closed lower on Thursday as it extends this year's decline. Profit taking tempered early session gains and the mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI are overbought but remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends this year's decline into uncharted territory, downside targets will be hard to project. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted. |
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