USDCHF Forecast

The USDCHF had a bullish momentum yesterday, slipped above 0.9000 but still unable to stay consistently above that area so far. There are no changes in my daily outlook, where the major scenario remains strongly bearish but price is still in a consolidation phase as bearish seems exhausted. The bias is neutral in nearest term. Immediate support at 0.8950. A clear break below that area would change the intraday bias to bearish testing 0.8900 key support area. A clear break below 0.8900 could end the consolidation phase and continue the major bearish scenario targeting 0.8850/00 even lower. On the upside, a clear break above 0.9000 could trigger further upside pullback testing 0.9055 – 0.9130 resistance area.

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