USDCHF Forecast

The USDCHF bearish momentum was stopped yesterday after found a good support around 0.8915 as you can see on my daily chart below. The bias is neutral in nearest term. Price is still in bearish intraday phase since the violation to the trend line support but would need a clear break and daily close below 0.8915 to continue the bearish momentum testing 0.8800 even 0.8550. Immediate resistance is seen around 0.9070. A clear break above that area could trigger further upside momentum testing 0.9150/80 which would be a threat to the current bearish intraday phase.

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

.