USDCHF Forecast

The USDCHF continued its bearish momentum yesterday, bottomed at 0.9336, rejected the bullish correction scenario given by the hammer candle stick formation. The bias remains bearish in nearest term targeting 0.9300 – 0.9250. Immediate resistance at 0.9380 – 0.9400. Break above that area could lead us to neutral zone in nearest term testing 0.9440/50. As you can see on my daily chart below, we have a falling wedge formation indicates potential bullish reversal scenario especially if price breaks above the wedge. But until that happens, the major outlook remains strongly bearish.

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