The USDCHF pair showed positive trading yesterday to test the EMA50, which continues to form strong resistance barrier against the price positive attempts, which keeps the bearish trend scenario valid until now, reinforced by stochastic reach to the overbought areas thresholds now.
The price needs to break 0.9525 followed by 0.9474 levels to confirm opening the way to head towards 0.9243 that represents the next main target of the current bearish wave, taking into consideration that breaching 0.9580 followed by 0.9676 levels will turn the intraday and short term track to the upside.
Expected trading range for today is between 0.9450 support and 0.9620 resistance.
Expected trend for today: Bearish
Origin: Economies
