USDCHF Forecast

The USDCHF attempted to push lower yesterday, bottomed at 0.9086 but closed higher at 0.9134. Overall price is still moving sideways and there are no changes in my technical outlook. I still prefer a bearish intraday scenario at this phase as long as stays below 0.9320. Immediate resistance is seen around 0.9170 – 0.9200. A clear break above that area could trigger further bullish pressure testing 0.9250 – 0.9320 area. On the downside, we need a clear break and daily close below 0.9050 to continue the bearish scenario since the failure to break above 0.9600.

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