USDCHF Forecast

The USDCHF gapped down earlier today, opened at 0.9454 after projections on Greek election showed pro-bailout politicians won enough seats to control the parliament, created broad US Dollar weakness. The bias is bearish in nearest term testing 0.9371/20 support area. Immediate resistance is seen around 0.9500. A clear break above that area could lead price to neutral zone in nearest term but only a clear break above the bearish channel and 0.9575 (see my h4 chart below) could stop the current bearish outlook.

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