USDCHF Forecast

The USDCHF had a significant bearish momentum yesterday, broke below 0.8779 and bottomed at 0.8668. The hammer candle stick formation has failed and price may continue its strong bearish scenario from here targeting 0.8600. Immediate resistance at 0.8779 (former support). A clear break above that area would lead us to neutral zone in nearest term but overall I still prefer a bearish scenario at this phase.

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