USDCHF Forecast

The USDCHF attempted to push higher yesterday, topped at 0.9248 but whipsawed to the downside, bottomed at 0.9113 and closed at 0.9143. This fact keeps the bearish intraday scenario remains strong testing 0.9050 area. Overall price has been sideways since Monday but as long as stays below 0.9320 I still prefer a bearish scenario at this phase as a part of the bearish scenario since the failure to break above 0.9600. Immediate resistance is seen around 0.9170. A clear break above that area could trigger further bullish pullback retesting 0.9248.

©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.