USDCHF Forecast

The USDCHF had a moderate bearish momentum yesterday. On h1 chart below we can see that the pair still trapped in broadening formation area where price made new highs and lows without clear direction but we also still have the bearish trendline indicating the bearish scenario in longer term remains intact. I prefer to stay out for now and wait for further development. Immediate support is seen at 1.0580 followed by 1.0527 area. Initial resistance at 1.0650 followed by 1.0750. CCI just cross the -100 line up on h1 chart suggesting potential minor upside pressure.