USDCHF Forecast

The USDCHF had a significant bearish momentum on Friday. On h4 chart below we can see that the price has been consolidating in a range market after bearish momentum since March 12, attempted to push higher but failed to make a breakout then finally fell on Friday, bottomed at 1.0657 and closed at 1.0682. The bias is bearish in nearest term testing the lower border of the range market around 1.0589 area. A break below that area should set up further bearish scenario on medium term testing 1.0364 area. CCI just cross the -100 line up on h1 chart so watch out for a potential upside rebound testing 1.0750. Break above that area should lead us into no trading zone.