USDCHF Forecast

The USDCHF had some bearish pressures earlier today in Asian session, testing 0.8080 record low as you can see on my daily chart below. The bias is bearish in nearest term especially if price able to make a clear break below 0.8080 testing 0.8000 region. Immediate resistance is seen around 0.8135. A clear break above that area could lead price to neutral zone in nearest term and keep price in a consolidation  phase in a range area of 0.8080 – 0.8274 but as long as price stays below 0.8274 my overall intraday bias remains to the downside. Only a clear break above 0.8274 could be a threat to the current strong bearish outlook and make 0.8080 as a bottom, a double bottom formation which could create a bullish reversal scenario.

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