The USDCHF had a bullish momentum yesterday on broad US Dollar strength, topped at 0.9113 and hit 0.9133 earlier today. The bias is bullish in nearest term testing 0.9140/50. A clear break and daily close above that area could create further bullish pressure retesting 0.9320 key resistance area. Immediate support is seen around 0.9090. A clear break back below that area could lead price to neutral zone in nearest term testing 0.9050. I still prefer a bearish scenario at this phase but would need a clear break and daily close back below 0.9050 to reactivate my bearish mode.
©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.