USDCHF Forecast

The USDCHF was corrected lower yesterday, bottomed at 0.9552 and closed at 0.9577. The bias is neutral in nearest term but still within a bullish reversal scenario after the break above the falling wedge formation. I am still in bullish mode for this pair unless price breaks below 0.9529 which could be a threat to the bullish outlook. Nearest term bullish target remains around 0.9700 – 9.800 before testing 1.0000.  Buying near 0.9529 is the best strategy I can think right now where risk-reward ratio looks very good.

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