USDCHF Daily Forecast: December 04

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By swibowo | December 4, 2013 4:49 PM EST

Fx Instructor

USDCHF Forecast

The USDCHF regained its bearish momentum yesterday bottomed at 0.9020. The bias is bearish in nearest term but note that we have a double bottom formation at 0.9020/18 which need to be clearly broken to the downside to continue the bearish scenario testing 0.9000 psychological level, so price is testing a key support area now. Immediate resistance is seen around 0.9055. A clear break above that area could trigger further bullish pressure testing 0.9090 or higher.

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