USDCHF Daily Forecast

After significant bullish momentum moved by SNB intervention, the USDCHF had moderate bearish correction yesterday. On h1 chart below we have rectangle formation indicating consolidation. The bias is neutral in nearest term. Break from the rectangle should give us clearer direction. Immediate support is seen at 1.0920. Break below that area should trigger further bearish momentum towards 1.0830 area. Initial resistance at 1.1050. CCI just cross the 100 line down on h4 chart suggesting potential downside pressure.