USDCHF Daily Forecast

The USDCHF had a bearish momentum yesterday. The pair bottomed at 1.0763 and closed at 1.0796. The bias is bearish in nearest term but on h4 chart below we have triangle formation indicating consolidation while the pair still trapped in 1.0975 – 1.0590 ranging area, so I think it’s not the best time to trade now. Immediate support is seen at 1.0730. Break below that area could trigger further bearish momentum towards 1.0650. Initial resistance at 1.0850. CCI in neutral area on daily chart.