The USDCHF still show no clear direction in a volatile market so far and we are still in no trading zone for this pair. Overall price still move in range area of 1.0888 – 1.0420. However, note that the raising wedge formation indicating potential bearish scenario especially if price break below the wedge testing 1.0420. Immediate support is seen at 1.0660/75. Break below that area could trigger further bearish pressure testing 1.0600. Initial resistance at 1.0786 (yesterday’s high) followed by 1.0848.
©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.