USDCHF Forecast

The USDCHF didn’t make significant movement yesterday. The bias is neutral in nearest term but overall price is still in a bullish correction phase still testing 0.8555 key resistance area. The major scenario remains bearish but a clear break above 0.8555 could trigger further bullish correction scenario. There are no changes in my daily technical outlook. Aggressive intraday traders can still activate their bullish mode but on the other hand can short around 0.8555 with tight stop loss as a clear break above 0.8555 would be a threat to the major bearish scenario and continue the bullish correction. Immediate support remains at 0.8400. A clear break below that area could stop the current bullish intraday outlook and trigger further bearish pressure retesting historical low 0.8274.

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