USDCHF Forecast

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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