USDCHF Daily Forecast: March 22

By swibowo
21 March 2010 @ 11:27 pm EDT

USDCHF Forecast

The USDCHF attempted to push higher on Friday but again, 1.0640 proved itself as a strong resistance area at this phase. Although the bearish momentum wanes as price is now making a new minor bullish channel as you can see on my h4 chart below, as long as price move below 1.0640 the bearish correction scenario remains intact. We need a consistent move above that area to end this bearish correction and back to its major bullish trend testing 1.0888 area. Immediate support at 1.0550 followed by 1.0507 area.

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