USD/CHF Daily Forecast

Tuesday, August 10, 2010

The USDCHF failed to continue its bearish scenario yesterday after unable to re-test 1.0350 support area, topped at 1.0498 and slipped above 1.0500 at the time I wrote this comment. The bias is bullish in nearest term testing 1.0580 even 1.0675 area but only a consistent move above 1.0675 could be seen as a serious threat to the bearish outlook. On the downside, we need a clear break below 1.0350 to continue the bearish scenario.