USDCHF Daily Forecast: May 10

By @ibtimes on

USDCHF Forecast

The USDCHF bullish correction was paused yesterday, but 0.8710 still provided a good intraday support so far. Looks like price trapped in a range area of 0.8779 – 0.8710 and need a clear break on either side to see clearer intraday bias. A clear break above 0.8779 could continue the bullish correction testing 0.8900 while a clear break below 0.8710 could trigger further downside pressure testing 0.8624. The major bearish scenario remains intact but I think we would need a clear break below 0.8555 to end the bullish correction phase and continue the major bearish scenario.

 

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