USDCHF Forecast

The USDCHF had a bearish momentum yesterday, bottomed at 0.9520 and closed at 0.9550. The bias is bearish in nearest term testing 0.9473. The bullish flag bullish scenario remains intact but a failure to break above the flag and clear break below 0.9473 might give us an early bearish reversal signal. Immediate resistance is seen around 0.9600. A clear break above that area could lead price to neutral zone in nearest term testing 0.9650 key resistance area, which need to be broken to continue the major bullish scenario.

width=480px

©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.

.