USDCHF Forecast

The USDCHF had another indecisive movement yesterday. Price attempted to push lower, bottomed at 0.9175 but closed higher at 0.9255. The bias is bullish in nearest term testing 0.9320 resistance area. Overall price keep making higher lows, support the bullish outlook but note that we still need a clear break and daily close above 0.9320 to continue the bullish scenario testing 0.9400 – 0.9500 area. 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.

©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.