USDCHF Forecast

The USDCHF had a moderate bullish momentum yesterday, topped at 1.0834 but closed lower at 1.0785. On h4 chart below we can see that the bearish channel has been violated to the upside indicating a bearish scenario failure. On the other hand the pair is making a new bullish channel indicating potential bullish outlook. I prefer a bullish scenario targeting 1.0940 but the bias is neutral in nearest term. It’s often happen in the market when the price will try to move towards the upper line of the bearish channel, even inside the bearish channel again but long short position is not recommended at this phase. Immediate support at 1.0750/30 area. Break below that area should lead us into no trading zone.