USDCHF Forecast

The USDCHF continued its bearish correction yesterday and now traded below 0.9523 support area. This fact is a serious threat to the bullish scenario. The bias is bearish in nearest term testing 0.9440. Break below that area would continue the bearish pressure testing 0.9330/00 key support area. Immediate resistance at 0.9523. Break above that area would lead us to neutral zone in nearest term. Only a clear break above 0.9600 would change the intraday bias to bullish and give another chance to the bullish scenario testing 0.9700 – 0.9800.

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