USDCHF Forecast

The USDCHF failed to continue its bearish momentum yesterday after failed to consistently move below 0.9550 support area, topped at 0.9683 and closed at 0.9672. The bias is bullish in nearest term testing 0.9800 but note that we are still trapped in range area of 0.9800 – 0.9550 and I still prefer only to long around 0.9550 or short around 0.9800 as I will have a good risk-reward ratio. A clear break above 0.9800 would lead us to a new bullish phase at least targeting 1.0000 area.

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