USDCHF Forecast

The USDCHF failed to continue bullish momentum after touched the upper line of the major bullish channel (blue line), bottomed at 1.0758 and closed at 1.0768. On h1 chart below we can see that the minor bullish channel has been violated to the downside indicating potential bearish correction scenario testing 1.0700 – 1.0600 area. However note that the main trend should remain bullish and the current bearish momentum should be seen as corrective movement. Another movement above 1.0800 area should be a serious threat to the bearish correction scenario and continue its major bullish scenario targeting 1.1000.