USDCHF Forecast

The USDCHF was volatile but indecisive yesterday. Price attempted to push lower, slipped below the trend line support and 0.9150 but closed higher at 0.9210. The bias remains neutral in nearest term. As you can see on my h4 chart below price is now struggling around the trend line support. A clear break and daily close below the trend line support and 0.9150 could trigger further bearish pullback testing 0.9050 but only a movement back below 0.8915 could postpone the bullish scenario. On the upside, we need a clear break and daily close above 0.9320 to continue the bullish scenario and reactivate my bullish mode in the next few weeks as a part of the hammer formation bullish reversal scenario on the weekly chart.

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