The USDCHF continued its bearish bias yesterday and hit another new record low at 0.7480 but bounced higher earlier today in Asian session hit 0.7565. The bias remains bearish in nearest term aiming for another new record low projection around 0.7450. Immediate resistance is seen around 0.7570. A clear break above that area would lead price to neutral zone in nearest term testing 0.7650. Like I said yesterday, we have a falling wedge bullish warning especially if price breaks above the wedge and 0.7650.
©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.