USDCHF Forecast
The USDCHF had a bullish momentum last week, topped at 0.9648 but closed a little bit lower at 0.9587. Price is moving back inside the rising wedge formation as you can see on my daily chart below, suggests a potential false breakout which keeps the rising wedge bearish scenario alive and kicking. The bias is neutral in nearest term. Key support now seen at 0.9520. A clear break and daily close below that area would confirm the rising wedge bearish scenario testing 0.9400 area. On the upside, 0.9650 remains a key resistance. A clear break above that area would invalidate the rising wedge scenario and turn my short term bias into a bullish mode. Overall I remain neutral.

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