USDCHF Forecast

The USDCHF continued its bullish momentum after corrected lower on Monday, topped at 1.0428 and closed at 1.0403. For me, my first bullish target at this phase around 1.0450 is considered reached. Break above 1.0450 area should continue the bullish scenario with a new range area of 1.0450 – 1.0700. On the downside, immediate support at 1.0350. Break below that area should trigger further bearish correction towards 1.0230 and could be a serious threat to my bullish outlook. We have CCI divergence on daily chart indicating potential downside pullback.