The USDCHF pair provided strong negative trading on last Friday to surpass our first waited target at 0.9752 and reach direct to our second target at 0.9634, which supports the continuation of our bearish overview for the upcoming period, as the price falls under strong negative pressure that we expect to push trading to visit the previously recorded low at 0.9442 as a next main station.
Therefore, the bearish bias will be suggested on the intraday and short term basis supported by the EMA50, unless breaching 0.9752 – 0.9795 levels and holding above them.
Expected trading range for today is between 0.9550 support and 0.9752 resistance.
Expected trend for today: Bearish
Origin: Economies
