USDCHF Forecast

The USDCHF was corrected higher yesterday and now struggling around 0.9330 resistance area which is for me still a good place for a short position with good risk-reward ratio. A clear break above 0.9330 could trigger further upside correction testing 0.9435. Immediate support at 0.9272. A clear break below that area would change the intraday bias to bearish retesting 0.9230 and keeps the major bearish scenario testing 0.9100 – 0.9000 remains strong.

©2011 FX Instructor Forex Blog - For Traders, By Traders. All Rights Reserved.