USDCHF Forecast

The USDCHF continued its bearish momentum yesterday on broad US Dollar weakness. The bias remains bearish in nearest term testing 0.9320 support area. A clear break and daily close below that area could trigger further bearish pullback testing 0.9200. My major technical outlook remains to the upside but we haven’t seen convincing bullish momentum so far. In fact, the bullish momentum seems exhausted and need a clear break and daily close above 0.9500 to keep the bullish scenario remains strong. I will stand aside for now.

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