USDCHF Daily Forecast

The USDCHF had significant bullish momentum yesterday after the SNB intervention to weaken the Swiss Franc. The pair topped at 1.1019 and closed at 1.0977. The bias is bullish in nearest term but we seem to have strong resistance around 1.1050. Break above that area should trigger further bullish momentum towards 1.1150 area. Immediate support is seen at 1.0870. Break below that area should lead us into no trading zone. CCI just cross the 100 line down on h1 chart suggesting potential downside rebound.