USDCHF Forecast

Overall, the USDCHF shows no clear direction so far, moving in a range area of 1.0888 – 1.0420 in a volatile market. On daily chart below we have a raising wedge formation indicating potential bearish scenario especially if price break below the lower line. Immediate support at 1.0675 area. Break below that area could trigger further bearish pressure towards 1.0600 before re-testing 1.0420 region. Initial resistance at 1.0888. Break above that area could trigger further bullish momentum testing 1.1000 psychological level.

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