The USDCHF pair bounced clearly to the downside to settle around the EMA50 again, noticing that stochastic provides negative overlapping signal on the four hours’ time frame, which supports the continuation of the bearish bias in the upcoming sessions, waiting to visit 0.9578 level mainly.
Therefore, the negative scenario will remain active on the intraday and short term basis unless we witnessed clear breach and holding above 0.9825 and 0.9864 levels.
Expected trading range for today is between 0.9660 support and 0.9800 resistance.
Expected trend for today: Bearish
Origin: Economies
