The USDCHF managed to break yesterday’s mentioned bearish flag’s support and settled with a daily close below it, which activates the negative effect for this pattern, which supports the continuation of the bearish trend on the short term basis, opening the way towards 0.9474 as a next main station.
Therefore, the bearish trend will remain expected in the upcoming period supported by the negative pressure that comes from the EMA50, unless witnessing a clear breach and a daily stability above 0.9676 level.
Expected trading range for today is between 0.9525 support and 0.9676 resistance.
Expected trend for today: Bearish
Origin: Economies
