USDCHF Daily Forecast: May 07

USDCHF Forecast
The USDCHF continued its bullish momentum last week topped at 1.0023. The bias is bullish in nearest term testing 1.0037 key resistance as a part of the bullish scenario after broke above the rising wedge formation on the daily chart. A clear break and daily close above 1.0037 would expose 1.0100 or higher. Immediate support is seen around the support line of a minor bullish channel and 0.9970 region as you can see on my H1 chart below. A clear break below that area could lead price to neutral zone in nearest term testing 0.9940 – 0.9920 area but overall I remain bullish and any downside pullback should be seen as a good opportunity to buy.