The USDCHF pair achieved strong break to 0.9752 level and settled with a daily close below it, which stops the recently suggested bullish trend scenario and put the price under negative pressure that we expect to push trading towards 0.9634 initially, noting that breaking this level will extend the bearish wave to reach the previously recorded low at 0.9442 as a next main station.
Therefore, the bearish trend will be suggested on the intraday and short term basis unless the price managed to breach 0.9752 followed by 0.9870 levels and hold above them.
Expected trading range for today is between 0.9590 support and 0.9752 resistance.
Expected trend for today: Bearish
Origin: Economies
