USDCHF Forecast

The USDCHF was indecisive yesterday but corrected lower earlier today in Asian session hit 0.9496. The bias is neutral in nearest term. I still prefer a bullish scenario at this phase but we haven’t seen convincing bullish momentum so far. A clear break back below 0.9500 could trigger further bearish pullback but only a clear break and daily close below 0.9320 would postpone the bullish outlook. On the upside, immediate resistance which is also the nearest bullish target remain around 0.9600. We need a clear break and daily close above that area to continue the bullish scenario testing 0.9700 – 0.9800 region.

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