USDCHF Forecast

The USDCHF attempted to push lower yesterday, slipped below the lower line of the bullish channel, bottomed at 1.0278 but further bearish momentum was rejected as price whipsawed to the upside and closed higher at 1.0362. On daily chart below we can see that this was a case of a false breakdown from the bullish channel. Although overall this pair is still consolidating, this fact should trigger further upside pressure re-testing 1.0450 area today. Immediate support at 1.0330.

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