USDCHF Forecast

The USDCHF had a bearish momentum yesterday after failed to make a clear break and daily close above 0.8915 resistance area. The bias remains neutral in nearest term and I still prefer to stand aside for now. Price is still moving in a sideways condition between 0.8915 – 0.8550 and need a clear break on either side to see clearer direction. A clear break and daily close above 0.8915 would stop the bearish scenario since the breakdown below the trend line support and turn my intraday bias to a bullish view at least testing 0.9040/80 region. Immediate support is seen around 0.8761 (yesterday’s low). A clear break and daily close below that area could trigger further bearish pressure testing 0.8600 – 0.8550 key support area.

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