USDCHF Forecast

The USDCHF continued its bearish intraday momentum on Friday, bottomed at 0.8902 but still unable to stay consistently below 0.8915 so far. The bias remains bearish in nearest term but would need a clear break below 0.8915 strong support area to continue the bearish intraday phase testing 0.8800 even 0.8550. Immediate resistance is seen around 0.8960. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 0.9038 (Thursday’s high) I still prefer a bearish intraday scenario at this phase.

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