The USDCHF pair’s bullish rally stopped when the price hit the bearish channel’s resistance that appears on chart, to block the continuation of positive effect of the inverted head and shoulders’ pattern mentioned in our recent reports, especially that stochastic provides positive signals that might push the price to return to decline.
Therefore, we prefer staying aside temporary until we get clearer signal for the next trend, which we will get through breaching one of the key levels represented by 0.9634 support and 0.9680 resistance, as breaching this resistance represents the key to extend the positive effect to target 0.9752 level mainly, while breaking the support will push the price to resume the main bearish trend that its next target located at 0.9442.
Expected trading range for today is between 0.9600 support and 0.9752 resistance.
Expected trend for today: Neutral
Origin: Economies
