USDCHF Daily Forecast: January 11
The USDCHF had a strong bullish momentum yesterday, topped at 0.9848. Price is moving back inside the bearish channel as you can see on my 4H chart below, suggests a potential bullish correction testing the upper line of the bearish channel and 0.9950 region. On daily chart, we have a bullish engulfing pattern which also suggests a potential bullish pullback. The bias is bullish in nearest term testing 0.9900 – 0.9950 region. Immediate support is seen around 0.9790. A clear break below that area could lead price to neutral zone in nearest term retesting 0.9750 area which need to be clearly broken to the downside to resume the bearish phase testing 0.9600 – 0.9535 region.