The USDCHF pair traded with clear negativity yesterday to break 0.9752 level and settle with a daily close below it, which turns the intraday and short term track to the downside, as the price moves below the bearish trend line that appears on chart, opening the way to continue the bearish bias in the upcoming sessions and head towards 0.9634 level initially.
Therefore, the bearish trend will be suggested on the intraday and short term basis supported by the negative pressure provided by the EMA50, noting that breaking the targeted level will extend the bearish wave to reach 0.9442 level as a next main target, while the bearish trend will remain valid unless the price managed to breach 0.9752 followed by 0.9944 levels and hold above them.
Expected trading range for today is between 0.9634 support and 0.9800 resistance.
Expected trend for today: Bearish
Origin: Economies
