USDCHF Forecast

The USDCHF was indecisive yesterday. The bias is neutral in nearest term with potential range area between 0.8555 – 0.8381. Overall the technical bias remains strongly to the downside and I am expecting a clear break below 0.8381 to continue the bearish scenario testing 0.8300. Immediate resistance at 0.8460. A clear break above that area could trigger further upside pullback testing 0.8555 which seems to be the best place for a short position at this phase with good risk – reward ratio. Fundamental focus today is on US NFP number which is expected around 194K, lower than the previous at 244K.

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