USDCHF Forecast

The USDCHF had a significant bearish momentum yesterday, slipped below the major bullish channel indicating critical technical phase with a bearish reversal scenario especially if price able to consistently move below the bullish channel today. The bias is bearish in nearest term targeting 1.0420. Immediate resistance at 1.0640. Break above that area could be seen as a false breakdown scenario which could trigger significant bullish momentum and keep the bullish scenario intact.

©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.