The USDCHF attempted to push lower last week bottomed at 0.9535 but closed higher at 0.9635, printed a bullish pin bar on weekly chart. The bias is bullish in nearest term testing 0.9700.
Immediate support is seen around 0.9590. A clear break below that area could lead price to neutral zone in nearest term retesting 0.9535. As long as stay below the trend line resistance I still prefer a bearish scenario but need a clear break below 0.9535 to continue the bearish phase testing 0.9450 area.
The USDCHF was indecisive yesterday. The bias is neutral in nearest term. Immediate support is seen around 0.9590. A clear break below that area could trigger further bearish pressure testing 0.9535 support area.
Immediate resistance is seen around 0.9640. A clear break above that area could trigger further bullish pressure testing 0.9700 area. Overall I remain neutral but as long as stay below the trend line resistance I still prefer a bearish scenario at this phase.
The USDCHF had a bearish momentum last week bottomed at 0.9288. The bias is bearish in nearest term but we have an inside bar formation as you can see on my daily chart below suggests a potential consolidation phase. Overall price is still in a bearish phase but need a clear break below 0.9288 (the low of the mother bar) to continue the bearish phase testing 0.9150 region.
On the upside, key resistance is seen around 0.9465. A clear break above that area could trigger further bullish pressure testing 0.9590 region. Overall I remain neutral.
The USDCHF was indecisive yesterday. The bias remains neutral in nearest term. We need a clear break above or below the mother bar (see my daily chart below) to see clearer direction. It’s been a choppy market this week ahead of FOMC statement on Thursday and US NFP number on Friday.
On the downside, a clear break below 0.9288 could trigger further bearish pressure testing 0.9150 or lower. On the upside, a clear break above 0.9450 would expose 0.9590. Overall I remain neutral.
The USDCHF had a moderate bearish momentum yesterday bottomed at 0.9288, which is the low of the mother bar as you can see on my daily chart below. We also have a multiple inside bars indicates few days of consolidation. The bias is bearish in nearest term especially if price able to make a clear break below 0.9288 testing 0.9150 or lower. Immediate resistance is seen around 0.9360.
A clear break above that area could lead price to neutral zone in nearest term testing 0.9400 but key resistance remains at 0.9465. Fundamental focus will be on the US NFP on Friday. Overall I remain neutral.
The USDCHF had a significant bearish momentum yesterday, broke below the low of the mother bar after formed multiple inside bars as you can see on my daily chart below, suggests a bearish outlook. The bias is bearish in nearest term testing 0.9150.
Immediate resistance is seen around 0.9288. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear. Fundamental focus today will be on the US NFP number. Overall I remain neutral.
The USDCHF was indecisive last week but slipped below the low of the mother bar (0.9288) as you can see on my daily chart below suggests a potential bearish view. The bias is bearish in nearest term testing 0.9250.
Immediate resistance is seen around 0.9340. A clear break and daily close above that area could lead price to neutral zone in nearest term testing 0.9400 or higher. On the downside, a clear break and daily close below 0.9250 would expose 0.9150 region. Overall I remain neutral.
The USDCHF had a bullish momentum yesterday topped at 0.9397 but closed a little bit lower at 0.9353. The bias is bullish in nearest term testing 0.9465 as a part of the false break (below 0.9288) bullish scenario.
Immediate support is seen around 0.9305. A clear break below that area could lead price to neutral zone in nearest term retesting 0.9288 key support. On the upside, a clear break and daily close above 0.9465 would expose 0.9590 region. Overall I remain neutral.
The USDCHF continued its bullish momentum yesterday as expected, topped at 0.9454. The bias remains bullish in nearest term especially if price able to make a clear break above 0.9465 testing 0.9535 – 0.9590 resistance area as a part of the false break (below 0.9288) bullish scenario.
Immediate support is seen around 0.9400. A clear break below that area could lead price to neutral zone in nearest term testing 0.9375/50 support area. Overall I remain neutral.
The USDCHF failed to continue its bullish momentum yesterday after unable to break above 0.9465 resistance area, which creates a potential range area between 0.9465 – 0.9288 as you can see on my daily chart below. The bias is bearish in nearest term retesting 0.9288 region. A clear break and daily/weekly close below that area would expose 0.9150 – 0.9070 region next week.
Immediate resistance is seen around 0.9400. A clear break above that area could lead price to neutral zone in nearest term retesting 0.9465 region. Overall I remain neutral.
