USDCHF Forecast

The USDCHF didn’t make significant movement yesterday. Price attempted to push lower but still unable to make a clear break below the neckline of the H&S formation at 0.8779. The bias is neutral in nearest term but the H&S bearish scenario still provide potential bearish outlook especially if price able to make a clear break below 0.8779 testing 0.8710 even 0.8555. Immediate resistance at 0.8850. A clear break above that area could trigger further bullish pressure testing 0.8881 (right shoulder) which could be a threat to the H&S bearish scenario.

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