USDCHF Forecast

The USDCHF continued its bullish momentum yesterday, topped at 0.8768 and closed at 0.8746. This fact not only could continue the bullish scenario since the SNB intervention in nearest term targeting 0.8945, but could be an early signal of a major bullish reversal scenario. Immediate support is seen around 0.8680. A clear break below that area could lead price to a neutral zone in nearest term testing 0.8630 – 0.8550 area but overall I still prefer a bullish scenario at this phase.

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