The USDCHF was indecisive last week. Price attempted to push lower bottomed at 0.9423 but closed higher at 0.9515 after bounced-off the lower line of the bullish channel which keeps the bullish phase intact. The bias is bullish in nearest term testing 0.9580 – 0.9650 resistance area.
Immediate support is seen around 0.9485. A clear break below that area could lead price to neutral zone in nearest term retesting the lower line of the bullish channel and 0.9420 region. Overall I remain neutral.
The USDCHF was indecisive yesterday. The bias is neutral in nearest term but as long as stay inside the bullish channel price is still in a bullish phase. Immediate support is seen around 0.9470 located around the lower line of the bullish channel. A clear break and daily close below that area would invalidate the current bullish phase.
Immediate resistance is seen around 0.9550. A clear break above that area would expose 0.9580 – 0.9650 region. Overall I remain neutral.
The USDCHF had a bullish momentum yesterday topped at 0.9569. The bias is bullish in nearest term testing 0.9650 resistance area located just above the daily EMA 200 as you can see on my daily chart below.
Immediate support is seen around 0.9535 area. A clear break below that area could lead price to neutral zone in nearest term testing the lower line of the bullish channel and 0.9470 region. On the upside, a clear break and daily close above the daily EMA 200 could trigger further bullish scenario which started after the false break below 0.9250 support area. Overall I remain neutral.
The USDCHF had a bearish momentum yesterday bottomed at 0.9483 and hit 0.9467 earlier today in Asian session. This fact is a serious threat to the bullish phase especially if price able to make a clear break and consistent movement below 0.9470 support area testing 0.9420/00 region.
Immediate resistance is seen around 0.9530. A clear break above that area could lead price to neutral zone in nearest term and keep the bullish phase intact testing 0.9580 – 0.9650 region. Overall I remain neutral.
The USDCHF was indecisive yesterday but overall still able to maintain its bearish intraday bias and hit 0.9449 earlier today in Asian session. Price slipped below the bullish channel and 0.9470 support area as you can see on my daily chart below suggests a bearish view. The bias is bearish in nearest term testing 0.9420/00 area.
Immediate resistance is seen around 0.9489 (current high). A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear. Overall I remain neutral.
The USDCHF had a bearish momentum last week bottomed at 0.9444. The bias is bearish in nearest term testing 0.9420/00 as a part of the bearish scenario following the violation to the bullish channel as you can see on my daily chart below.
Immediate resistance is seen around 0.9495. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear. On the downside, a clear break and daily close below 0.9420/00 would expose 0.9350. Overall I remain neutral.
The USDCHF was indecisive yesterday but overall still prints lower highs and lows on daily chart since broke below the bullish channel. The bias is bearish in nearest term testing 0.9400 region.
Immediate resistance is seen around 0.9488. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear. On the downside, a clear break and daily close below 0.9400 would expose 0.9350 or lower. Overall I remain neutral.
The USDCHF had another indecisive movement yesterday. Price attempted to push higher topped at 0.9508 but closed lower at 0.9465. The bias is neutral in nearest term. Potential range area is seen between 0.9508 – 0.9433. A clear break above 0.9508 could trigger further bullish pressure testing 0.9570 region.
I still prefer a bearish scenario as a part of the bearish phase after broke below the bullish channel as you can see on my daily chart below but need a clear break below 0.9433 to resume the bearish phase testing 0.9350 area or lower. Overall I remain neutral.
The USDCHF had a strong bullish momentum yesterday topped at 0.9577. Price revisits the lower line of the (violated) bullish channel as you can see on my daily chart below, which is a good place to sell with a tight stop loss as a clear break above 0.9577 would invalidate the bearish phase testing 0.9650 resistance area or higher.
Immediate support is seen around 0.9515. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish phase alive and kicking testing 0.9450 region. Overall I remain neutral.
The USDCHF was indecisive yesterday. The bias is neutral in nearest term. From another technical perspective as you can see on my daily chart below, price is moving inside a rising wedge formation, which is a bearish formation that will be confirmed by a breakout below the lower/support line of the wedge located around 0.9470 area.
On the other hand, a clear break above the upper/resistance line of the rising wedge formation and 0.9650 could trigger further bullish scenario with nearest target seen at 0.9850. Overall I remain neutral.
