USDCHF Forecast

The USDCHF failed to continue the bullish momentum yesterday, bottomed at 0.9174 and closed at 0.9226 after unable to make a clear break above 0.9320 key resistance area. The bias is neutral in nearest term. My overall technical bias remains to the upside but need a clear break and daily close above 0.9320 to continue the bullish scenario. Immediate support is seen around 0.9150 and the trend line support as you can see on my h4 chart below. A clear break and daily close below that area could trigger further bearish pullback testing 0.9100 – 0.9050 but as long as stays above 0.8915 I still prefer a bullish intraday scenario at this phase as a part of the hammer formation bullish reversal scenario on weekly chart I showed you yesterday.

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