USDCHF Forecast

The USDCHF attempted to push higher on Friday, topped at 1.0826 but closed lower at 1.0765. Although price is still move in the minor bullish channel, it has been moving lower after touched the upper line of the major bullish channel (blue line). A break below the minor bullish channel should trigger further downside correction testing 1.0700 support area even further. The bias is neutral in nearest term but the major bullish scenario should remains intact. Initial resistance at 1.0850. Break above that area should confirm the bullish continuation testing 1.1000 area.