USDCHF Forecast

The USDCHF attempted to push higher yesterday, topped at 1.0422 but further bullish correction was limited as the pair closed lower at 1.0336. On daily chart below, we have another inverted hammer so bullish correction warning is still there. I still prefer a bearish scenario but I think it’s better to stay out at this phase. Yes, the current bearish momentum is strong and tempting but I will never ignore any correction/reversal warning. Immediate support at 1.0300 – 1.0250. Initial resistance at 1.0422 (yesterday’s high) followed by 1.0527.