USDCHF Daily Forecast: May 02 2016

USDCHF Daily Forecast: May 02 2016

2 May 2016, 06:15
Roberto Jacobs
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USDCHF Daily Forecast: May 02 2016

USDCHF Forecast

The USDCHF had a bearish momentum last week, broke below the bullish channel and 0.9715 support area as you can see on my daily chart below, bottomed at 0.9569. The bias is bearish in nearest term testing 0.9470. Immediate resistance is seen around 0.9625. A clear break above that area could lead price to neutral zone in nearest term testing 0.9670 but overall I prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell.

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