USDCHF Daily Forecast: January 08

By IBTimes Staff Reporter | January 07 2010 8:33 PM

USDCHF Forecast

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The USDCHF failed to continue its bearish momentum yesterday. On h4 chart below, we can see that price failed to stay below 1.0280 area and now has violated the bearish channel to the upside indicating potential end to the bearish correction. We will have US NFP and unemployment rate today which is expected to be catalyst. US NFP is expected around 20.2K while unemployment rate expected at 10.1%. My opinion is if the actual numbers are at least the same with forecast, or better, Dollar should strengthen further targeting 1.0500 area. But if the actual numbers are worse than expected, Swiss Franc should get some support testing 1.0150 – 1.0000 area.

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