The USDCHF pair could not manage to hold for long time above 0.9848, to trade negatively yesterday to return below the mentioned level, and by taking a deeper at the chart, we find that the last bullish wave is confined inside a potential rising wedge, which forms negative factor that we are waiting to push the price to resume the main bearish trend again.
Therefore, we expect the domination of the bearish trend on the upcoming trading conditioned by the price stability below 0.9848, noting that breaking 0.9815 level will activate the negative effect of the above mentioned pattern followed by leading the price to achieve negative targets that start at 0.9752 and extend to 0.9634.
Expected trading range for today is between 0.9750 support and 0.9900 resistance.
Expected trend for today: Bearish
Origin: Economies
