USDCHF Forecast

The USDCHF had a volatile but indecisive movement yesterday indicating a consolidation after significant bearish momentum, which is actually normal and probably needed before continue the bearish scenario. Price broke above 1.0166 but failed to test 1.0235 resistance area and now back below 1.0166. The bias remains bearish with 1.0000 psychological level as potential target. Short position is not recommended at this phase.