The USDCHF attempted to push lower yesterday, but rejected to make a clear break below 0.8779 and closed higher at 0.8813. The major scenario remains strongly bearish but like I said we need a clear break below 0.8779 to continue the bearish scenario targeting 0.8700 – 0.8600. The bias is neutral in nearest term. Immediate resistance at 0.8851 (current high). A clear break above that area would change the intraday bias to bullish testing 0.8900.
©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.