USDCHF Daily Forecast: March 11 2016

The USDCHF attempted to push higher yesterday topped at 1.0092 but whipsawed to the downside and closed lower at 0.9849 in a high volatile market during ECB press conference. The bias is bearish in nearest term especially if price able to make a clear break and consistent movement below 0.9820 testing 0.9765 or lower. Immediate resistance is seen around 0.9900. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 1.0000/35 I still prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell.