USD/CHF Daily Forecast

Monday, July 19, 2010

The USDCHF failed to continue its bearish momentum on Friday, topped at 1.0541 and closed at 1.0515. This fact activates my wait and see mode for now but overall we are still in major bearish scenario. Immediate support at 1.0450. Break below that area could trigger further bearish pressure testing 1.0400 and 1.0320. On the upside, another movement above 1.0500 could trigger further upside pressure testing 1.0600 region.