USDCHF Forecast

The USDCHF has been moving in unclear direction in the last three days. Price now back below 1.0640 indicating a weak bullish momentum but still maintain bullish view as price still move above the minor trendline support (red). The bias is neutral in nearest term and I think we area still in no trading zone. Immediate support at 1.0550. Break below that area could trigger further bearish pressure testing 1.0507 even 1.0420 region. Initial resistance at 1.0689 (yesterday’s high). Break above that area should trigger further bullish momentum testing 1.0750 even 1.0888.

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