USD/CHF - daily technical Forecast

By IBTimes Staff Reporter | May 21 2010 5:03 AM

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USD/CHF posted an inside day with a lower close on Thursday as it consolidated some of this spring's rally. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that additional weakness is possible near-term. If it extends this month's rally, weekly support crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term high has been posted.