USDCHF Forecast

The USDCHF slipped above 0.9230 yesterday but unable to stay consistently above that area and now traded lower around 0.9170.  Although it’s too early to say that bullish correction is over, the bias is bearish in nearest term testing 0.9090 as we might have a false breakout scenario here. Immediate resistance at 0.9200. A clear break above that area would lead us to neutral zone in nearest term but only a consistent move above 0.9230 would give the bullish correction scenario another chance testing 0.9368.

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