USDCHF Forecast

The USDCHF made indecisive movement yesterday, formed a Doji on daily chart. On h4 chart below we can see that hammer formation has give us a valid upside correction so far and price now testing 1.0320 resistance area. Break above that area should trigger further bullish momentum towards 1.0380 area but long position in not recommended at this phase. Break above 1.0380 could trigger further bullish rebound re-testing 1.0527 key resistance area. Initial support at 1.0166 – 1.0135 area. Break below that area should be seen as potential bearish continuation towards 1.0000 psychological level.