USDCHF Forecast

The USDCHF didn’t make significant movement yesterday. On my hourly chart below we can see price has been moving sideways up and down about 100 pips in the last three days between 0.9020 – 0.8915. The bias remains neutral in nearest term and needs a clear break from the range area to see clearer intraday direction. A clear break above 0.9020 and the minor trend line resistance (white) could trigger further bullish pressure testing 0.9080 – 0.9100 area. On the other hand, a clear break below 0.8915 could trigger further bearish correction testing 0.8850. My major technical bias remains to the upside and any downside movement now should be seen as a corrective movement.

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