USDCHF Forecast

The USDCHF attempted to push higher yesterday, break the range area, topped at 1.0679 but bullish momentum seemed very limited as the pair retreated back into range area. CCI in overbought area and heading down on h4 chart support the limited bullish momentum for now. I think we are still in no trading area as we haven’t seen clear direction. Until we have a break below 1.0589 signaling bearish outlook or breakout above 1.0750 signaling bullish outlook, keep stay out from the market and wait for further development. Eyes on US NFP data today. A better than expected number should support the bearish outlook while a worse than expected number should support the bullish outlook.