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USDCHF Daily Forecast: April 29

USDCHF Daily Forecast: April 29
Thursday, April 29th, 2010 @ 3:09 am by Setyo Wibowo

About Setyo Wibowo:

Setyo Wibowo Living in East Java, Indonesia and holding International Relations degree, Setyo Wibowo began his forex trading career by joining Fortune Channel Investment in 2000 as a market analyst, while learning to trade forex independently on his own. Driven by his desire to share his trading experiences and ideas, Setyo joined the FX Instructor team in 2008. Setyo Wibowo is now living in Mojokerto, East Java, Indonesia.

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USDCHF Forecast
The USDCHF slipped above 1.0888 yesterday, but failed to consistently move above that area so far. The bias is neutral in nearest term but this fact could produce a false breakout scenario which could trigger bearish pressure especially if price break below 1.0770 area testing 1.0700 region. Immediate resistance at 1.0923 (yesterday’s high). Break above that area should trigger further bullish momentum testing 1.1000 region.

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