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The analysts of the oversea institution said on Tuesday that USD/CHF will have strong consolidation. As far as Tuesday, the USD/CHF had its consolidation within the interval of 0.9725 to 0.9750.
The factors to support the foerx rate included that investors worried that the SNB may interpose in market by selling CHF, and the heated up risk appetite triggered the financing arbitrage trading of shorting CHF, EUR/CHF’s rebounded triggered CHF selling.
The analyst pointed out that the daily chart of USD/CHF is bearish, because the MACD and RDJ indicator are bearish; however, the latter one was in state of overbought, revealing that the short-term forex rate will have consolidation or go up.
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