Saturday, July 2, 2011

Commerzbank: comments on USD/CHF

US dollar recovered from the record minimum versus Swiss franc at 0.8275 hit on Tuesday getting above 0.8450.


Technical analysts at Commerzbank claim that some further rebound of the pair USD/CHF is quite possible noting the recent divergence on the RSI indicator.


According to the specialists, on its way up the greenback will face resistance in the 0.8547/54 zone limited by the minimum of the beginning of May and May 31 maximum. The bank says that the negative pressure on the pair will ease down only if it closes above these levels.

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