USDCHF Forecast

The USDCHF continued its bearish pressure yesterday, bottomed at 1.0135 and closed at 1.0149. On daily chart below we can see the falling wedge formation has been violated to the downside indicating potential bearish continuation. The bias remains bearish in nearest term but we need a clear break below 1.0130 to continue the bearish scenario testing 1.0030 and 0.9917. Immediate resistance at 1.0220. Break above that area could lead us into neutral zone in nearest term but the main scenario remains bearish.

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