USDCHF – Daily Forex Technicals by ForexHound.com July 14th

Looking at the bigger picture on USDCHF we can clearly spot the pair’s range bound price action for the last couple of months; now after what appears to be a bounce from the lower side at the 1.0150 we can expect a retrace towards the 1.0250-1.03 area. Although USDCHF has slowly moved lower it has not done it in a trend like fashion, the moves are small(although fast) and are often followed by quick retracements. Looking at the bigger picture on USDCHF we can clearly spot the pair’s range bound price action for the last couple of months; now after what appears to be a bounce from the lower side at the 1.0150 we can expect a retrace towards the 1.0250-1.03 area. Although USDCHF has slowly moved lower it has not done it in a trend like fashion, the moves are small(although fast) and are often followed by quick retracements. If you’re the type of trader that likes to hold on to a trade it might be better to wait and perhaps enter short from  a higher level.

[NP][/NP]