The USDCHF had a bearish momentum yesterday bottomed at 0.9601 and hit 0.9595 earlier today in Asian session. The bearish pin bar I showed you yesterday gave us a valid bearish signal. The bias is bearish in nearest term testing 0.9550 – 0.9450 key support area which remains a good place to buy with a tight stop loss below 0.9450 as a clear break and daily/weekly close below that area would expose 0.9250 region next week. Fundamental focus today will be on the US NFP number.
The USDCHF was indecisive yesterday. The bias is neutral in nearest term. Overall price is still in a bullish phase since bounced-off 0.9450 key support but unable to make a clear break above 0.9700 resistance so far as you can see on my daily chart below. Immediate support is seen around 0.9620. A clear break and daily close below that area could trigger further bearish pressure testing 0.9550 region but key support remains at 0.9450. On the upside, a clear break above 0.9700 would expose 0.9765 – 0.9807 key resistance area which remains a good place to sell.
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