USD/CHF Daily Forecast

Wednesday, August 11, 2010

The USDCHF attempted to push higher yesterday, topped at 1.0617 but whipsawed to the downside and closed lower at 1.0484 in a high volatile market. The bias is neutral in both nearest and medium term as price still consolidating in range area of 1.0675 - 1.0350. Immediate resistance at 1.0580. Break above that area could trigger further upside pressure testing 1.0675. Initial support at 1.0450. Break below that area could trigger further bearish pressure testing 1.0350.