USDCHF Daily Forecast: July 30

By swibowo
29 July 2010 @ 11:58 pm EDT

USDCHF Forecast

The USDCHF had a significant bearish momentum after break below 1.0560/40 yesterday, slipped below 1.0399 and now struggling around that area. The bias is bearish in nearest term targeting 1.0320 before testing 1.0220 especially if price able to move consistently below 1.0399. immediate resistance at 1.0500. Break above that area could lead us into neutral zone but the main scenario remains bearish and I still prefer to short on rallies.

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