USDCHF Forecast

The USDCHF had a bearish momentum yesterday, bottomed at 0.9410 and closed at 0.9439. The bias is bearish in nearest term testing 0.9320 support area but any upside pullback now is normal. I am still in a bullish mode for this pair and only a clear break and daily close back below 0.9320 would postpone the bullish scenario. Immediate resistance is seen around 0.9470 (former support). A clear break above that area could lead price to neutral zone in nearest term testing 0.9580 – 0.9600 resistance area.

©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.