USDCHF Daily Forecast Dec 12 2014

swiss65
swiss65

Outlook in USDCHF has turned neutral with risk to the downside as long as 0.9737 resistance holds on a daily closing basis ,  the pair is in a corrective pullback mode for retesting  0.9600 support , a halt is strongly suggested but , If the key support 0.9600 fails on a daily closing basis , expect to see further weakness towards the 0.9550 levels , a clear break below the 0.9550 levels will pave the way towards the 0.9440/0.9360 levels.

On the upside , to restore the upside momentum , 0.9737 should be taken out on a daily closing basis , If seen , the pair will recapture the 0.9817 levels , If this resistance is taken out , further gains are likely towards the 0.990 levels ahead of the 1.000 levels.

In all , as long as 0.9737 resistance holds on a daily closing basis , the USDCHF remains in a pullback mode for retesting 0.9600 levels before the next rise , above 0.9737 will restore the upside momentum and open 0.9817/0.9900 levels..

Intraday Forecast : As long as 0.9720 resistance holds on a 4 hour closing basis , the pair remains under pressure with risk towards the 0.9600 levels , a clear break above the 0.9720 levels is needed to restore the upside trend , If seen focus will be on the 0.9900 levels.

In the medium term forecast , as long as support 0.9661 holds on a weekly closing basis , outlook in USDCHF remains on the upside towards the 0.9920 levels ahead of the 1.0070/1.0240 levels .below 0.9661 will bring pullback towards the 0.9360 levels before the next rise!!

USDCHF Daily Forecast Dec 12 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS