USDCHF Forecast

The USDCHF attempted to push lower yesterday, slipped below 0.8800 but whipsawed to the upside, closed higher at 0.8862. The bias is neutral in nearest term. I think price is still consolidating since the breakdown below the trend line support. My short term bias remains more to the upside since bounced strongly from 0.8550 strong support area but need a clear break and daily close above 0.8915 to continue the bullish intraday scenario at least testing 0.9040/80. Immediate support remains around 0.8800. A clear break below that area could trigger further bearish pressure testing 0.8750/66.

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