USDCHF Forecast

The USDCHF made another indecisive movement yesterday. On hourly chart below we can see price has been moving in a narrow range area of 0.8381 – 0.8325 since Monday. There are no changes in my daily technical outlook.  The bias remains neutral in nearest term but still within a strong bearish outlook especially if price able to make a clear break below the range area still targeting 0.8250 – 0.8200. Aggressive intraday traders can short around 0.8381 with tight stop loss. A clear break above 0.8381 could trigger further upside pullback testing 0.8460 and 0.8555 resistance area.

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

.