USDCHF Forecast

The USDCHF attempted to push higher yesterday, slipped above 1.0380, topped at 1.0404 but this was just a false breakout as the pair retreat lower and closed at 1.0360. Usually a false breakout lead to significant downside momentum. In this case, the lower line of the bullish channel could be a potential target. A violation to the bullish channel should be seen as the end of the bullish correction and continue bearish scenario targeting 1.0000.