USDCHF Daily Forecast Aug 20 2014

The USDCHF maintained a bearish momentum few days ago (last Friday) , printed resistance at the 0.9070 levels . but the pair fails to hold below the key support 0.9022 and pulled back above the the key resistance 0.9070 on a daily closing basis . As a result ; outlook in USDCHF has turned neutral at the moment for retesting the 0.9115 levels , to resume the upside offensive , 0.9115 should be taken out on a daily closing basis , If seen , next resistance would be the 0.9150 levels , further upside will open up the 0.9245 levels….

Alternatively , a failure to take out the 0.9115 levels on a daily closing basis could mean a return to the 0.9070/0.9020 levels , a halt is likely , but losing the 0.9020 levels will reverse risks towards the 0.8970 levels where a cut will open the 0.8900 levels….

In all , the USDCHF is likely to consolidate within 0.9020/0.9115 range , above the 0.9115 will aim the 0.9150/0.9245 levels , while below the 0.9020 levels will pave the way towards the 0.8970/0.8900 levels…


USDCHF Daily Forecast Aug 20 2014