USDCHF Forecast

The USDCHF continued its bearish pressure yesterday, bottomed at 0.9437 but closed higher at 0.9518. As long as price stay below 0.9550 the nearest bias remains bearish re-testing 0.9437 – 0.9400 which could be an important daily support for the remaining days of 2010. I personally will stop trading until next year. A break above 0.9550 could trigger further upside pullback testing 0.9600 but as long as price moves inside the bearish channel the major scenario remains strongly bearish.

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