USDCHF Forecast

The USDCHF had a significant bullish correction yesterday after found a good support around 0.8555 which formed a double bottom formation. On h4 chart below we have a huge bullish candle and price is now struggling around the upper line of the bearish channel. A clear break above 0.8711 and violation to the bearish channel could trigger further bullish correction testing 0.8779 resistance area. Immediate support at 0.8624. A clear break below that area could trigger further bearish pressure, keep the bearish scenario remains strong retesting 0.8555 support area. Fundamental focus is on the US NFP today, which is expected around 185K, worse than the previous number around 216K.

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