USDCHF Forecast

The USDCHF didn’t make significant movement yesterday. Price unable to consistently move above the bearish channel to continue bullish scenario. On the other hand, support area at 38.2% Fibo retracement around 1.0280 area still did a good job preventing further bearish pressure. I still prefer a bullish scenario as I still consider the bearish movement as correction. So I think 1.0280 area is a good place to long but with only tight stop loss below it targeting 1.0400 – 1.0450 area. Consistent move below 1.0280 area should be seen as a serious threat to the bullish outlook.