USDCHF Forecast

The USDCHF continued its bearish momentum yesterday, bottomed at 0.9502 and hit 0.9495 earlier today. The bias remains bearish in nearest term testing 0.9473. A clear break and daily close below that area will cancel the bullish flag bullish scenario testing 0.9320 support area. Immediate resistance is seen around 0.9540 – 0.9575. A clear break above that area could lead price to neutral zone in nearest term but would keep the bullish flag scenario intact. Fundamental focus is on Greek legislative election on June 17, a battle between pro and anti bailout parties which likely to create high volatile market and we might have another big gap on Monday.

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