USDCHF Forecast

The USDCHF attempted to push higher yesterday, topped at 0.9314 but further upside pressure was rejected, closed lower at 0.9194 and now testing 0.9181 support area. My major bullish outlook remains intact but the fact that the bullish momentum is not so convincing could create a bullish exhaustion condition especially if price breaks below 0.9181 testing 0.8915 area. Immediate resistance is seen around 0.9250. A clear break above that area could trigger further bullish intraday momentum retesting 0.9320 area but we need a clear break and daily close above 0.9320 to continue the major bullish scenario.

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