The USDCHF had a Bearish momentum last week bottomed at 0.9288. The bias is bearish in nearest term but we have an inside bar formation as you can see on my daily chart below suggests a potential consolidation phase. Overall price is still in a bearish phase but need a clear break below 0.9288 (the low of the mother bar) to continue the bearish phase testing 0.9150 region. On the upside, key resistance is seen around 0.9465. A clear break above that area could trigger further bullish pressure testing 0.9590 region. Overall I remain neutral.
This post first appeared on FX Instructor Forex Blog - For Traders, By Traders, please read the originial post: here