USDCHF Forecast

The USDCHF continued its bullish momentum yesterday, topped at 1.1186 and closed at 1.1179. The bias is bullish in nearest term. However, as you can see on my daily chart below CCI already in extreme overbought area and heading down so watch out for potential downside correction. Immediate support at 1.1110. Break below that area could trigger further bearish correction testing 1.1050/60 area. Initial resistance at 1.1250. Break above that area could trigger further bullish momentum testing 1.1300/30 area. ?

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