USDCHF Forecast

The USDCHF failed to continue it’s bearish correction yesterday, topped at 1.0794 and closed at 1.0769. The bias is bullish in nearest term but I think overall price still consolidation and only a clear break above 1.0888 – 1.0900 area could continue the bullish scenario targeting 1.1000 and put the bearish correction phase to its end. Immediate support at 1.0720 area. Break below that area should keep the bearish correction scenario intact testing 1.0640 and 1.0507 area.