USDCHF – Rejects 61.8% pullback – Bearish bias below .9230

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USDCHF – For the 4th day in succession gains were rejected in USDCHF with investors continuing to sell rallies close to .9248, 61.8% pullback level. This bearish momentum has continued overnight with the pair trading to the lowest level in 4 days. These facts are bearish for sentiment but, with the selloff stalling at .9200 support, there is scope for a small profit taking correction going into today. The call is Bearish Bias below a stop at .9230. The profit targets will be: .9195, .9168 and .9149

Resistance levels are: .9215, .9230 and .9248

USDCHF