USDCHF Forecast

The USDCHF made another indecisive movement yesterday, made another Doji on daily chart. There are no changes in my daily technical outlook where overall bias remains strongly to the downside probably aim for new historical low projection around 0.8200. Let’s take a broader look on daily chart below to get our mind refreshed. The characteristic during the bearish momentum is how broken supports become resistances. From that point of view, as long as price stays below 0.8555 the bearish scenario should remain strong and only a clear break above 0.8555 could stop the current bearish outlook. Note that this pair is in a record low right now, which may attract some long term buying speculations. CCI bullish divergence seen on daily chart might give a good reason to do that. However, for intraday/short term trader, buy position is not recommended until a movement above 0.8555.

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