USDCHF Forecast

The USDCHF was indecisive yesterday, made a Doji on daily chart. The bias remains neutral in nearest term. Overall the bullish technical bias since the SNB intervention remains strong but would need a clear break above 0.8945 to continue the bullish scenario testing 0.9320. Immediate support is seen around 0.8756 (yesterday’s low). A clear break below that area could trigger further bearish correction testing 0.8700 but as long as price stays above 0.8550 I still prefer a bullish scenario and any downside consolidation after huge bullish run is normal.

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

.