USDCHF Forecast

The USDCHF finally had a significant bullish pullback yesterday, topped at 0.7685 and closed at 0.7623 after a strong break above 0.7322 as you can see on my h4 chart below. The bias is bullish in nearest term especially if price able to make clear break above 0.7650 testing 0.7798 region. I still think that it’s too early for a bullish reversal scenario, but yesterday’s bullish momentum could be an early signal of a bullish reversal. Immediate support is seen around 0.7475. A clear break back below that area could trigger further bearish pressure testing 0.7322.

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