USDCHF Forecast

The USDCHF failed to continue downside pressure yesterday, break above 1.0120, topped at 1.0207 but found resistance around the trendline resistance (red) which is my key resistance area at this phase. Only break above that trendline could be considered as potential bullish reversal scenario at least back towards 1.0337 area. The bias is neutral in nearest term but the rejection to move above trendline resistance might produce downside pressure re-testing 1.0120 support area (former resistance). Break below could trigger further downside momentum and keep the bearish scenario intact re-testing 1.0000/33 psychological level once again.