The USDCHF was corrected higher yesterday, topped at 0.9051 and closed at 0.9045. The bias is bullish in nearest term but I still prefer a bearish intraday scenario at this phase and selling around 0.9050 seems to be a good idea with a tight stop loss as a clear break above 0.9050 would activate my wait and see mode as direction would become unclear. Immediate support is seen around 0.9000. A clear break below that area could lead price to neutral zone in nearest term but would keep my bearish outlook remains intact testing 0.8900 area as nearest bearish target.
©2012 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.