USDCHF Forecast

The USDCHF continued its bearish correction yesterday and found a support around 0.8915 as you can see on my daily chart below. The bias is bearish in nearest term especially if price able to break below 0.8915 testing 0.8800 area even 0.8550. Immediate resistance is seen around 0.8981 (current high). A clear break back above that area could lead price to neutral zone in nearest term but as long as stays below 0.9070, price remains in a bearish correction phase.

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