USDCHF Forecast

The USDCHF continued it’s bearish momentum yesterday, bottomed at 1.0033 and closed at 1.0062. The bias remains bearish with 1.0000 as potential target. However, that area also could be a strong support area, so I think I will be very careful at this phase and keep an eye to any reactions around that support area. A break below that area should take us into a new phase of a bearish scenario. Immediate resistance at 1.0080 and 1.0166 area. Long position is not recommended.