USDCHF Forecast

The USDCHF was indecisive last week. Price attempted to push higher, topped at 0.9299 closed lower at 0.9196 on Friday and hit 0.9146 earlier today. There are no changes in my technical outlook and overall price is still moving sideways in the last four weeks between 0.9320 – 0.9100. As long as stays below 0.9320 I still prefer a bearish intraday scenario at this phase expecting a bearish continuation scenario after the failure to break above 0.9600. The bias is bearish in nearest term testing 0.9100 – 0.9050. Immediate resistance is seen around 0.9200. A clear break back above that area could lead price to neutral zone in nearest term testing 0.9250 – 0.9320 resistance area.

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