USDCHF Forecast

The USDCHF was indecisive yesterday. The bias is neutral in nearest term, but the hammer candle stick formation seen on h4 chart below could provide a bullish correction warning especially if price able to make a clear break above 0.7322 testing 0.7365 and 0.7435 resistance area but bullish reversal scenario is still far enough for me and my overall technical bias remains strongly to the downside. Immediate support is seen around 0.7250. A clear break below that area would change the intraday bias back to bearish testing 0.7180 – 0.7130 support area.

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