The USDCHF pair continues to provide the negative trading to start pushing on 0.9700 barrier, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, and the way is open to visit 0.9578 level that represents 38.2% Fibonacci correction for the entire rise measured from 0.8368 to 1.0326.
Therefore, the negative pressure will remain dominant on the intraday and short term basis unless breaching 0.9864 level and holding above it, being aware that it is important to monitor the price behavior when reaching 0.9578 level, as breaking it represents the key to extend the bearish wave to reach 0.9347 as a next main station.
Expected trading range for today is between 0.9600 support and 0.9750 resistance.
Expected trend for today: Bearish
Origin: Economies
