The USDCHF had another insignificant movement last week and market remains sideways. The bias remains neutral in nearest term. There are no changes in my technical outlook. As long as stays below 0.9320, I still prefer a bearish intraday scenario as a part of the bearish phase since the failure to break above 0.9600. On the downside, immediate support remains around 0.9100 followed by 0.9050 which is also the nearest bearish target. Immediate resistance is seen around 0.9200. A clear break and daily close above that area could trigger further bullish pullback testing 0.9320.
©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.