USDCHF Forecast

Finally, my trendline resistance was convincingly violated to the upside and price now traded above 1.0166 resistance area (now become support) indicating serious threat to the current bearish outlook and potential bullish reversal scenario. The bias is bullish in nearest term targeting 1.0280 area. Immediate support at 1.0166 – 1.0120 area. Break below that area should lead us into no trading zone and price might regain it’s bearish momentum once again re-testing 1.0040 area.