USDCHF Forecast

The USDCHF had a significant bearish momentum last week, broke below the range area as you can see on my daily chart below. This fact could trigger further bearish scenario since the failure to make a break above 0.9600 testing 0.8800 in nearest term. From a broader outlook, the break below the range area could create further bearish scenario testing 0.8566 support area. Immediate resistance is seen around 0.9000. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 0.9050 my overall intraday bias remains strongly to the downside and I still prefer to short on rallies.

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