USDCHF Forecast

My technical strategy worked perfectly yesterday. As you can see on my h4 chart below, we had a nice bearish movement, bottomed at 1.0053 after my trendline support (red) violated to the downside. The bias remains bearish in nearest term but I will stay away for now since we are faced with 1.0000 psychological support area.  I need a clear movement below 1.0000 area to confirm that we are in a new stage of bearish scenario. Immediate resistance at 1.0120 and 1.0166 area. As long as the pair stay below that area expect further downside pressure.