USDCHF Forecast

The USDCHF had another indecisive movement yesterday. There are no changes in my technical outlook. Overall price is still moving sideways for more than three weeks now. I still prefer a bearish intraday scenario at this phase as long as stays below 0.9320. Immediate resistance is seen around 0.9170. A clear break above that area could trigger further bullish pressure testing 0.9250 – 0.9320 area. Immediate support is seen around 0.9100. A clear break below that area could trigger further bearish pressure testing 0.9050 but 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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