USDCHF Forecast

The USDCHF was volatile but indecisive yesterday. Price attempted to push higher, topped at 0.9141 but whipsawed to the downside and hit 0.8993 earlier today in Asian session. The bias is bearish in nearest term testing 0.8945. However, from a longer term outlook, the major bullish scenario remains intact and only a movement back below 0.8550 could be a threat to my bullish outlook. Immediate resistance is seen around 0.9080. A clear break above that area could trigger further bullish pressure testing 0.9141 and keep my major bullish outlook strong, still testing 0.9320 area.

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

.