USDCHF Forecast

The USDCHF was corrected lower on Friday after failed to break above 0.9500 and hit 0.9373 earlier today. The bias is bearish in nearest term but as long as stays above 0.9320 I still prefer to buy on dips with stop loss below 0.9320. Immediate resistance is seen around 0.9420. A clear break above that area could lead price to neutral zone in nearest term retesting 0.9500 which need to be broken to continue the bullish scenario testing 0.9600. On the downside, a clear break and daily close back below 0.9320 would activate my wait and see mode as direction would become unclear with a bearish intraday bias.

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