USDCHF Forecast

The USDCHF continued its bearish momentum yesterday and now seems ready to test 0.8550 support area. The bias remains bearish in nearest term especially if price able to make another break and daily close below 0.8550 testing 0.8400 even 0.8280 support area. Immediate resistance is seen around 0.8700. A clear break back above that area could lead price to neutral zone in nearest term but as long as price stays below 0.8810 (yesterday’s high) I still prefer a bearish intraday scenario at this phase.

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