USDCHF Forecast

The USDCHF was corrected higher yesterday, topped at 0.8192 and closed at 0.8164. The bias is neutral in nearest term. Overall, as long as price stays below 0.8274 my intraday outlook remains strongly to the downside aiming for a new record low around 0.8000. Immediate resistance is seen around 0.8200. A clear break above that area could trigger further upside correction testing 0.8274 but only a clear break back above 0.8274 could stop my strong bearish intraday outlook. Short around 0.8274 is what I have in mind.

©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.