USDCHF Forecast

The USDCHF failed to continue it’s bearish momentum on Friday. On h1 chart below we can see that the trendline resistance (orange) has violated to the upside indicating potential bullish correction while at the same time price is moving in a new minor bullish channel (blue). The nearest bullish correction target at 1.0380. Break above that area should trigger further bullish momentum re-testing 1.0527. Immediate support at 1.0300 – 1.0250 area. Break below that area should diminish the bullish correction scenario.