USDCHF Forecast

The USDCHF failed to continue its bearish correction yesterday, topped at 0.9675 and closed at 0.9636. The bias is neutral in nearest term but overall I still prefer a bullish scenario. Immediate support is seen around 0.9600 – 0.9575 which is a good place to buy for an intraday plan with stop loss below 0.9575 as a clear break below that area could trigger further bearish pullback testing 0.9500 and we also have a CCI bearish divergence warning on daily chart. On the upside, 0.9800 remains the nearest bullish target.

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