The USDCHF slipped below 0.9233 yesterday but so far still unable to move consistently below that area. The bias is neutral in nearest term. Overall price still in a strong bearish outlook targeting 0.9100 and 0.9000 but would need a clear break and a daily close below 0.9233 to continue the bearish scenario. Immediate resistance remains around 0.9330, a nice place for a short position with good risk – reward ratio.
©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.