The USDCHF continued its bearish bias yesterday but still unable to make a clear break below 0.8000 psychological level. The bias remains bearish in nearest term especially if price able to make a clear break below 0.8000 aiming for a new record low around 0.7900. Immediate resistance remains around 0.8080. A clear break above that area could lead price to neutral zone in nearest term but until we have a movement above 0.8274 or any significant technical sign of correction/reversal, my overall technical bias remains strongly to the downside.
©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.