USDCHF Forecast

The USDCHF continued its bearish momentum last week, hit 0.9113 as a part of the bearish scenario after failed to break above 0.9600 and fell below 0.9320 support area. The bias remains bearish in nearest term testing 0.9050 area which is also the 200-daily-EMA. A clear break and daily close below that area could trigger further bearish scenario. Immediate resistance is seen around 0.9160. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 0.9320 I still prefer a bearish intraday scenario at this phase.

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