The USDCHF was indecisive yesterday, made a Doji on daily chart. There are no changes in my technical outlook. Volatility has been low since Monday and EU summit tomorrow can be a catalyst for a bigger/clearer movement. The bias is neutral in nearest term. My overall technical outlook remains to the upside, but need a clear break and daily close above 0.9320 key resistance area to continue the bullish scenario testing 0.9400 – 0.9500. Immediate support remains around 0.9200 – 0.9170 area. A clear break below that area could trigger further bearish pressure testing 0.9100 – 0.9070. I will keep stand aside for now.
©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.