USDCHF Forecast

The USDCHF was corrected higher yesterday, topped at 0.9695 and closed at 0.9672. The bias is bullish in nearest term especially if price make another upside pullback above 0.9700 testing 0.9800 which could create a false breakdown scenario and lead us back to the bullish scenario in medium and long term outlook. On the downside, initial support remains at 0.9550. We need a clear below that area to continue the bearish reversal scenario.

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