The USDCHF pair traded with clear negativity yesterday to break 0.9676 and close the daily candlestick below it, which confirms the continuation of the bearish trend on the short term basis, to extend the negative targets towards 0.9474, noting that the EMA50 forms negative pressure that supports the continuation of the decline in the upcoming period.
Therefore, the bearish trend expectations will remain valid and active, noting that breaching 0.9676 might stop the expected decline temporarily and push the price for new test to 0.9800 areas before any new attempt to decline.
Expected trading range for today is between 0.9470 support and 0.9745 resistance.
Expected trend for today: Bearish
Origin: Economies
