USDCHF Forecast

The USDCHF had a bearish momentum on Friday. On daily chart below we can see that the pair has break to the downside of the rectangle area indicating potential bearish scenario. However notice that Friday’s low at 1.0552 is considered as double bottom with August 03 low at 1.0560 so watch out for potential upside rebound. We need a consistent move below 1.0560 area to confirm the bearish scenario towards 1.0360 area. Immediate resistance at 1.0590 followed by 1.0650.