USDCHF Forecast

The USDCHF was indecisive yesterday. The bias is neutral in nearest term. My major outlook remains to the upside but still need a clear break and daily close above 0.9320 to continue the bullish scenario testing 0.9400 – 0.9500 region. I see 0.9320 resistance as an important/key resistance to be closely watched at this phase. We might have a double top formation around that area with potential big downside movement or a bullish continuation scenario once price makes a clear break and daily close above that area. Immediate support is seen around 0.9170. A clear break below that area could trigger further bearish pullback testing 0.9100 – 0.9070 support area.

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