The USDCHF pair traded positively yesterday to settle above 1.0075 level again, but we notice that the EMA50 forms a good resistance barrier to stop the price positive rally, while stochastic provides clear negative signal on the four hours time frame.
Therefore, these factors encourage us to prefer the bearish bias in the upcoming sessions, and the price needs to break 1.0075 level to confirm the continuation of the decline that its next target located at 1.0005, pointing that breaching 1.0105level will stop the negative expectations and pushes the price to test 1.0190 levels before detecting the next trend clearly.
Expected trading range for today is between 1.0005 support and 1.0130 resistance.
Expected trend for today: Bearish
Origin: Economies
