The Usdchf had a strong bearish momentum yesterday bottomed at 0.9984. Price broke below the bullish channel as you can see on my H4 chart below suggests a bearish outlook testing 0.9950 – 0.9870 support area. Immediate resistance is seen around 1.0050. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear. Overall I remain neutral.
This post first appeared on FX Instructor Forex Blog - For Traders, By Traders, please read the originial post: here