USDCHF Forecast

The USDCHF continued its bearish momentum on Friday. This fact is a serious threat to the falling wedge bullish reversal scenario. The bias remains bearish in nearest term especially if price able to make another strong break below 0.9435 targeting 0.9328.  Immediate resistance at 0.9523/50. A clear break above that area would change the intraday technical bias to bullish testing 0.9600 and would give the bullish scenario another chance.

©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.