USDCHF Forecast

The USDCHF made a moderate bearish momentum yesterday. On h4 chart below we can see that after breakdown below range area of 1.0715 – 1.0527 area, the pair keep moving lower. Although we have bearish exhaustion warning indicated by 2 inverted hammer I showed you yesterday, the fact is we do not see significant bullish correction yet. The bias is bearish in nearest term targeting 1.0250/10 area. CCI in oversold area and heading down on h4 chart so watch out for potential upside rebound testing 1.0420 resistance area. Break above that area should lead us into no trading zone.