USDCHF Forecast

The USDCHF opened higher earlier today in Asian session at 0.8815, gap up about 60 pips from Friday’s close price. The bias is bullish in nearest term testing 0.8850. A clear break and daily close above that area could end the bearish correction phase, retesting 0.8945 even higher. Immediate support is seen around 0.8750/25. A clear break back below that area could keep the bearish correction phase intact but as long as price stays above 0.8550 my overall technical bias remains to the upside.

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