USDCHF Daily Forecast Apr 09 2014

The USDCHF  maintained a bearish momentum yesterday , topped at the 0.8878  levels and bottomed at the 0.8825 levels . This development leaves the pair  targeting the 0.8790 levels , a halt is likely , but losing the 0.8790  levels on a daily basis would open 0.8745  next , further downside will aim the 0.8700 levels.

On the upside  , resistance comes at the  0.8850 levels ahead of 0.8878 ( main) , stability below this level will keep the pair under pressure , but break of the 0.8878  levels on a daily basis will recapture the 0.8924  levels , further upside will aim the 0.8952 levels.

In all , as long as resistance 0.8878 holds on a daily basis , the  USDCHF will remain based to the downside towards the 0.8790 levels , above  0.8878  levels  will reverse risks towards the  0.8924  levels….

USDCHF Daily Forecast Apr 09 2014