USDCHF Daily Forecast: August 08

By @ibtimes on

USDCHF Forecast

The USDCHF continued its bearish momentum last week and hit a new record low earlier today in Asian session at 0.7546. The bias remains bearish in nearest term aiming for another new record low projection around 0.7500 – 0.7450. Immediate resistance is seen around 0.7635. A clear break above that area could lead price to neutral zone in nearest term testing 0.7737. As you can see on my hourly chart below we have a falling wedge bullish warning especially if price able to make a clear break above the wedge and 0.7635 but it’s too early for any bullish reversal scenario and my major outlook remains strongly bearish.

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