USDCHF Forecast

The USDCHF continued its bearish momentum yesterday, bottomed at 0.9342 but corrected higher earlier today in Asian session hit 0.9395. The bias is neutral in nearest term but still in the context of a major bearish scenario with new bearish target around 0.9275. Immediate resistance at 0.9440. Break above that area could trigger further upside correction testing 0.9550. Today is the last day of 2010 so watch out for potential upside consolidation move. Happy New Year! May we all have a more profitable year.

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