USDCHF Forecast

The USDCHF continued to consolidate yesterday and still trapped in range bound area as you can see on h4 chart below, as the lacked of fundamental catalyst to move the market. Until we have a clear break on either side of range bound area, keep stay out from the market. I still prefer a breakdown to the downside and consistent move below 1.0589 area to continue the bearish scenario  towards 1.0364. Eyes on co-relation with EURUSD as we will have ECB rate decision and overall Euro economy outlook especially about the progress of the economic recovery. Bullish EURUSD should followed by bearish USDCHF while Bearish EURUSD should followed by bullish USDCHF. On Medium term outlook, my view remains bearish as long as the pair able to stay below 1.0750 area.