USDCHF Forecast

The USDCHF was traded with a little bit upside intraday bias earlier today in Asian session, slipped above 0.8915. The bias is bullish in nearest term especially if price able to consistently stays above 0.8915 and break above last week’s high 0.8959, testing 0.9040/80 even 0.9320 in a longer term outlook as the bearish phase since the breakdown below the trend line support could be over. Immediate support is seen around 0.8900. A clear break below that area could lead price to a neutral zone in nearest term testing 0.8850 but we need a clear break and daily close below 0.8800 to keep the bearish scenario strong, testing 0.8750 even retesting 0.8550.

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