USD/CHF still consolidating – Commerzbank

FXStreet (Edinburgh) - According to Axel Rudolph, Senior Technical Analysis at Commerzbank, the pair keeps its consolidative stance for now.

Key Quotes

“USD/CHF is still consolidating below the 200 day ma at .8947 and we continue to await a close above here”.

“We look for the market to slowly erode overhead resistance offered by the recent high at .9036, the 78.6% retracement at .9048 and the 55 week ma at .9031”.

“We suspect that these will all need to be cleared in order to regenerate real upside interest”.