USDCHF Forecast

The USDCHF attempted to push lower yesterday, bottomed at 1.0166 but further bearish pressure was rejected as the pair whipsawed to the upside and closed higher at 1.0294. On h4 chart below we can see that after a hammer appeared the pair push higher, break above 1.0275 resistance area but never really consistently move above that area yet. I think we area in no trading zone but I still prefer bearish scenario. Immediate resistance at 1.0320 followed by 1.0380. Only break above 1.0380 could be seen as potential threat to the bearish scenario. Initial support at 1.0135 (potential bearish target).