USD/CHF Daily Forecast

Thursday, July 29, 2010

The USDCHF failed to continue its bullish correction yesterday but still able to move above 1.0560/40 support area so far. The bias is neutral in nearest term. Consistent move below 1.0560/40 and a break below the trendline support (red) could end the upside correction testing 1.0500 - 1.0480 before targeting 1.0399 key support area. On the upside, 1.0675 - 1.0750 remains the bullish correction nearest targets.