The USDCHF attempted to push lower yesterday, but still unable to move consistently below 1.0399 area. The bias is neutral in nearest term. The major scenario remains bearish but we need a consistent move below 1.0399 to continue the bearish pressure targeting 1.0320 before testing 1.0220. Immediate resistance at 1.0500. Break above that area could trigger further upside pressure testing 1.0580 – 1.0600.
©2010 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.