USDCHF Forecast

The USDCHF had a bearish momentum last week on broad US Dollar weakness and now testing 0.9320 support area. The bias is bearish in nearest term especially if price able to make a clear break below 0.9320 testing 0.9200 area. However my major bullish scenario should remain intact and the current bearish momentum should be seen as corrective movement. Immediate resistance is seen around 0.9400/20. A clear break above that area could lead price to neutral zone in nearest term but only a clear break and daily movement back above 0.9500 could end the current bearish correction phase.

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