USDCHF Daily Forecast: February 22

The USDCHF had a bullish momentum last week topped at 0.9968 but closed lower at 0.9890. The bias is neutral in nearest term but overall I still prefer a bearish scenario at this phase. Selling around 0.9985 with a tight stop loss targeting 0.9600 region is the best plan for me at this situation. Immediate support is seen around 0.9880. A clear break below that area could trigger further bearish pressure testing 0.9820/00 or lower. On the upside, a clear break and daily close above 0.9985 would be a threat to the bearish scenario and activate my “wait and see” mode.