The USDCHF had a bullish momentum yesterday, topped at 0.8462 and closed at 0.8420. Important range to be watched closely at this phase is 0.8274 – 0.8555. A significant bullish pullback after hit historical low is normal but overall we are still in a major bearish scenario and strong bearish intraday outlook. The bias is bullish in nearest term testing 0.8555. Immediate support at 0.8360/50 region. A clear break below that area could change the nearest term bias back to bearish retesting 0.8274 record low.
©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.