The USDCHF pair fluctuates around 0.9996 level and moves near the correctional bearish channel’s resistance that appears on chart, which is met by the EMA50 to add more strength to it, while stochastic loses its positive momentum clearly to reach the overbought areas.
Therefore, we believe that the chances are valid to resume the bearish trend in the upcoming period, which targets 0.9915 level as a next main station, noting that breaching 1.0062 followed by 1.0125 levels will stop the suggested decline and lead the price to regain the bullish track on the short term basis.
Expected trading range for today is between 0.9915 support and 1.0062 resistance.
Expected trend for today: Bearish
Origin: Economies
