The USDCHF was volatile on Friday but overall still able to maintain its bearish intraday bias. The bias is bearish in nearest term especially if price able to make a clear break below 0.8350 testing 0.8274 historical low. However note that from an h4/daily chart outlook price is still consolidating in a range area of 0.8274 – 0.8555 and need a clear break on either side to see clearer direction. I think the best intraday strategy remains to long around 0.8274 or short around 0.8555 with tight stop loss. Immediate resistance is seen around 0.8440. A clear break above that area could stop the current bearish intraday outlook testing 0.8555 key resistance area.
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