USDCHF Forecast

The USDCHF made a strong upside pullback yesterday, topped at 0.9664. I was anticipating some upside corrections, but not that high. However, price closed significantly lower at 0.9574 and now struggling again around 0.9550 indicates that the bearish pressure is still alive and kicking especially if price make another movement below 0.9550 with 0.9461 as the nearest target. Few days ago I said that 0.9550 – 0.9461 could be a good support until next year so we may still have range market and some bullish pullback, but my overall outlook remains to the downside.

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