USDCHF Forecast

The USDCHF continued it’s bearish momentum yesterday, hit my first short target at 1.0390, bottomed at 1.0382 and closed at 1.0403. On my h4 chart below we can see that the bearish momentum was lead by breakdowns. I still prefer bearish scenario, but I think the bias is neutral in nearest term and CCI about to cross the -100 line up on h4 chart so watch out for potential upside rebound testing 1.0430 and 1.0527. Immediate support at 1.0382 (yesterday’s low). Break below that area should trigger further bearish continuation targeting 1.0275 area.