USDCHF Forecast

The USDCHF had a bullish momentum yesterday on broad US Dollar strength, topped at 0.9250 and hit 0.9275 earlier today. The bias is bullish in nearest term testing 0.9320 key resistance area. I still prefer a bearish intraday scenario at this phase and 0.9320 seems to be a good place for a short position with tight stop loss. A clear break above that area would stop the bearish phase since the failure to break above 0.9600, change my intraday bias to a bullish view probably retesting 0.9600. Immediate support is seen around 0.9200 – 0.9180. A clear break back below that area could lead price to neutral zone in nearest term.

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