USDCHF Forecast

The USDCHF slipped below the range area yesterday, bottomed at 1.0985 but unable to stay below the range area and now back inside the range area. The bias remains neutral in nearest term but this fact could produce a false breakdown scenario which could trigger upside pressure testing 1.1137 area. The main scenario remains bearish but note that we need a consistent move below 1.1006 region to continue the bearish pressure targeting 1.0920 region. Break above 1.1137 region could trigger further bullish momentum testing the bearish channel and 1.1245 resistance area.

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