USDCHF Forecast

The USDCHF had a significant bearish pullback yesterday, slipped below 0.8000 but bounced higher and hit 0.8074 earlier today in Asian session. This fact keeps my bullish intraday bias which started after the appearance of the hammer formation remains intact and 0.8000 area seems to be a good place for a long position with a tight stop loss on a clear break below 0.8000 with nearest target remains around 0.8275. On the downside, a clear break and daily close back below 0.8000 would activate my wait and see mode as direction would become unclear for me.

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