USDCHF Forecast
The USDCHF had a strong bearish momentum yesterday bottomed at 0.9875 on broad US Dollar weakness after ECB’s decision to extend its QE programme until March 2017 or beyond. Technically, as you can see on my daily chart below, we had a valid false breakout bearish scenario challenging the daily EMA 200 located around 0.9680. The bias is bearish in nearest term testing 0.9850. Immediate resistance is seen around 1.0000. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear. Fundamental focus today will be on the US NFP.
