USDCHF Daily Forecast: September 10

USDCHF Forecast

The USDCHF continued its bearish momentum last week, bottomed at 0.9430. The bias remains bearish in nearest term especially if price able to make a clear break below 0.9420 testing 0.9330/50 region. Indicators are in oversold condition so any upside pullback now is normal. Immediate resistance is seen around 0.9465. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 0.9550 my overall intraday bias remains to the downside. From a longer time frame outlook, buying around 0.9420/00 (bearish correction target) seems to be a good idea with a tight stop loss.

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