USDCHF Forecast

The USDCHF continued its bullish momentum on Friday broke above the range area and slipped above 0.9320 resistance area. The bias remains bullish in nearest term especially if price able to make a clear break above 0.9320 testing 0.9430 – 0.9500 area. From a broader outlook as you can see on my weekly chart below, the current bullish movement is a part of a major bullish reversal scenario after the appearance of the hammer formation. Immediate support is seen around 0.9250/00.

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