USDCHF Forecast

The USDCHF had a bearish momentum yesterday on broad risk appetite sentiment weakening the US Dollar, broke below the trend line support as you can see on my h4 chart below. The bias is bearish in nearest term but the current bearish intraday bias should be seen as a normal corrective/consolidation movement and my overall technical bias remains to the upside. Immediate support is seen around 0.9050. A clear break and daily close below that area could trigger further bearish pressure testing 0.8915 support area. I think I will stand aside for now. Immediate resistance is seen around 0.9200. A clear break above that area would lead price to a neutral zone in nearest term and we need a clear break and daily close above 0.9320 to stop the current bearish correction phase and reactivate my bullish mode.

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