USDCHF Forecast

The USDCHF continued its bearish bias on Friday bottomed at 0.8624 but corrected higher earlier today in Asian session and hit 0.8695. The bias is neutral in nearest term but overall the scenario remains strongly to the downside as long as price moves inside the bearish channel as you can see on my h4 chart below. Immediate resistance at 0.8746 – 0.8779. On the downside we need a clear break below 0.8624 to continue the bearish scenario testing 0.8600 – 0.8500 support area.

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