USDCHF Forecast

Finally the USDCHF made a breakout from the range area, topped at 1.0192 and closed at 1.0173. On h4 chart below we can see that price now is testing the trendline resistance (red, former support). The bias is bullish in nearest term but we surely need consistent move above the trendline to confirm the bullish reversal scenario towards 1.0337 area. Note that price is not able to stay above the trendline yet so far which can be considered as potential false breakout which usually lead to significant bearish momentum. Immediate support at 1.0120. Break below that area should trigger further bearish pressure.