USDCHF Forecast

The USDCHF didn’t make significant movement yesterday. Price attempted to push lower, bottomed at 1.0147 but whipsawed to the upside, hit the top at 1.0249 and closed lower at 1.0215. For me, the fact that price able to stay above 1.0166 area should keep the bullish scenario intact. False breakdown below 1.0166 could help the pair push higher today, testing 1.0280 even 1.0360 area. Immediate support at 1.0166 – 1.0147 area. Break below that area should trigger further bearish momentum back towards 1.0040 area.