USDCHF Daily Forecast Jun 06 2014

The USDCHF  maintained a strong bearish  momentum yesterday , printed resistance  at the 0.9036  levels .This development leaves the pair targeting the 0.8872  levels , a halt is likely , but a break would open 0.8830  next , further downside  will aim the 0.8780  levels.

On the upside  , resistance  comes at the 0.8948/0.8970 levels ahead of 0.9036  ( main) , stability below resistance  levels will keep the bearish  momentum intact , however ; break of the 0.9036  levels on a daily closing basis will reverse risks to the upside  towards the 0.9070/0.9115  levels , further downside will open the 0.9155  levels….

In all , as long as resistance  0.9035 holds on a daily closing basis , outlook in USDCHF remains on the downside  towards the 0.8872 levels ahead of the 0.8830  levels Above 0.9036  will reverse risks towards the 0.9070/0.9115  levels…….

USDCHF Daily Forecast Jun 06 2014