USDCHF Daily Forecast: May 04 2016

USDCHF Daily Forecast: May 04 2016

USDCHF Forecast

The USDCHF attempted to push lower yesterday bottomed at 0.9443 but whipsawed to the upside and closed higher at 0.9541, formed a long legged Doji as you can see on my daily chart below, which suggests a potential bullish pullback or at least a consolidation phase. The bias is bullish in nearest term testing 0.9600 – 0.9650 area. Immediate support is seen around 0.9500 – 0.9470. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish scenario remains strong.