USDCHF Forecast

The USDCHF was corrected significantly lower yesterday, bottomed at 1.0358 and closed at 1.0393. On daily chart below we can see that this was a case of a false breakout from 1.0450 area which should trigger significant bearish momentum testing 1.0230 area. Immediate resistance at 1.0400 – 1.0450 area. CCI just cross the 100 line down on daily chart suggesting potential downside pressure.