The USDCHF pair traded with strong positivity yesterday to surpass the EMA50, but it faced solid resistance barrier formed by the triangle’s resistance that appears on chart, accompanied by stochastic reach to the overbought areas, which forms negative pressure that we expect to push the price to decline again.
Therefore, we suggest witnessing negative trading in the upcoming sessions, and the targets begin at 0.9700 and extend to 0.9578, taking into consideration that breaching 0.9825 followed by 0.9864 levels will stop the expected decline and lead the price to achieve more gains on the short term basis.
Expected trading range for today is between 0.9700 support and 0.9825 resistance.
Expected trend for today: Bearish
Origin: Economies
