The USDCHF pair achieved a strong breach to 0.9676 level in last Friday and rallied to hit 0.9800 level directly, but we notice that this level represents a strong resistance barrier against the last rise, which make the price bounce lower and approaches from 0.9676 again.
Stochastic shows negative signals now, which encourages us to keep preferring the continuation of the bearish trend domination on the upcoming trading, pointing that breaking 0.9676 level and trading below it again will confirm opening the way towards heading to 0.9474, while the negative scenario will remain valid unless breaching 0.9800 level and holding above it.
Expected trading range for today is between 0.9550 support and 0.9800 resistance.
Expected trend for today: Bearish
Origin: Economies
