USDCHF Forecast

The USDCHF didn’t make significant movement on Friday. Price failed to consistently move above 1.0450 area and closed lower at 1.0424. This can be seen as a false breakout which could trigger significant bearish correction at this phase, but since that happened on a Friday when people may just taking profit on the weekend, the false breakout strategy may not valid this time. The bias is neutral in nearest term but overall the bullish scenario should remains intact. Immediate support at 1.0350. Break below that area could trigger further bearish pressure testing 1.0230 and should be seen as a serious threat to the bullish outlook.

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