USDCHF Forecast

The USDCHF was corrected lower yesterday, bottomed at 1.0552 and closed at 1.0561. I think this is a normal correction and as long as price stay above 1.0507 I still prefer a bullish scenario with 1.0700 as nearest target. Break below 1.0507 should trigger further bearish momentum testing 1.0350 area. As you can see on daily chart below, the bullish channel indicating a bullish scenario but at this phase we have a lot of “room” in the channel for downside correction so this can be a tricky phase for this pair.