Thu, 16 Sep 2010 22:27:00 +0200

Forex: USD/CHF consolidates gains at 1.0150

FXstreet.com (Córdoba) – The pair reached at 1.0168 the highest price in three days during the European session, after SNB decision on monetary policy, that left rates unchanged. Afterwards USD/CHF retreated but rebounded at 1.0110 and rose back to levels above 1.0140. Currently trades around 1.0150, 1.20% above today’s opening price.

“The 4H chart shows the market at the crossroad. The market has been bearish but the RSI is testing the bearish resistance reading at 60. A break above may signify a reversal, although after such a long decline, a reading above 70 begins the reversal consideration”, said Fan Yang, currency analyst at CMS Forex.

The Swiss Franc is consolidating important losses across the board weakened by the SNB statement that warned that the economic recovery is not yet sustainable and downside risk predominate. The central bank affirmed that it would take the necessary measures to ensure price stability and lowered inflation forecasts.

Technical Analysis (2010-09-16 20:15 GMT)
USD/CHF 1.0148/1.0151 - O: 1.02 H: 1.0202 L: 1.0194 C: 1.0199
Trend	R3: 1.0204
	R2: 1.0179
	R1: 1.0154
	S1: 1.0091
	S2: 1.0116
	S3: 1.0142