USDCHF Forecast

The USDCHF attempted to push lower yesterday, bottomed at 0.8949 but whipsawed to the upside and hit 0.9063 earlier today in Asian session. Price found a good support around 0.8915 and the trend line support as you can see on my daily chart below. The bias is bullish in nearest term testing 0.9150/80 region. However my medium outlook remains neutral until we have a clear break and daily close above 0.9320. Immediate support is seen around 0.9000. A clear break back below that area would lead price to neutral zone in nearest term as direction would become unclear retesting 0.8915 and the trend line support.

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

.