USDCHF Daily Forecast Jun 30 2014

The USDCHF  maintained  a bearish momentum last Friday , bottomed at the 0.8905 levels and  printed resistance at the 0.8937  levels .This development leaves the pair targeting the 0.8870 levels , a halt is likely but  a breach will turn focus on the 0.8825  levels , further downside will aim the 0.8775 levels..

On the upside , resistance comes at the 0.8937  levels (main), break of  0.8937 levels on a daily basis would recapture the 0.8975 levels , If this resistance is taken out , expect the pair to strengthen further towards the 0.9012/0.9036 levels..

In all , as long as resistance 0.8937  holds on a daily closing basis , outlook in USDCHF  remains on the downside towards the 0.8870 levels,ahead of the 0.8825 levels ,  break of 0.8937 will reverse risks towards the 0.8975/0.9012  levels…

Note that stability below the key support 0.8905  on a daily closing basis will make the pair very bearish , If seen ( It will happen today) , 0.8905 will serve as strong resistance …above 0.8905 will turn outlook neutral…


USDCHF Daily Forecast Jun 30 2014