USDCHF Forecast

The USDCHF continued its bullish momentum yesterday, topped at 1.1512 and closed at 1.1476. The bias is bullish in nearest term targeting 1.1595 region. On h4 chart below we can see that during the upside momentum, price made some downside correction in some minor bearish channels but all of them were violated one by one. So we may have another downside correction in a minor bullish channel but the main scenario remains to the upside. Immediate support at 1.1400. Break below that area could trigger further bearish correction testing 1.1360 area but I still prefer a bullish scenario with buy on dips strategy.

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