The USDCHF continued its bearish momentum yesterday, bottomed at 0.8895. While the major outlook remains strongly bearish, note that we have important support around 0.8900 and need to be clearly broken to the downside to continue the bearish scenario. As you can see on my h4 chart below, we have a CCI bullish divergence indicates potential bearish exhaustion and bullish pullback testing 0.9000/55 especially if price able to make a clear break above 0.8950. On the downside, a clear break below 0.8900 could trigger further bearish pressure testing 0.8850/00 area and keep the major bearish scenario remains strong.
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