USDCHF Forecast

The USDCHF made a false breakout above 1.0120 yesterday, topped at 1.0151 but closed lower at 1.0087. This fact should trigger further bearish momentum testing the minor trendline support (aqua) area which should be a good support at this phase. Break below that trendline should trigger further bearish momentum towards psychological level 1.0000, but we can clearly see that overall the pair still consolidating, move between 1.0207 – 1.0033 area since November 05 so I think the nearest bias remains neutral as we haven’t seen significant technical movement so far. Immediate resistance at 1.0151 (yesterday’s high). Break above that area should trigger further upside momentum re-testing 1.0207 area.