The USDCHF pair rallied upwards strongly yesterday after leaning on the bearish channel’s support that appears on chart, to approach from testing this channel’s resistance at 0.9950, and according to the trading rules inside the channels, we will be waiting for bearish rebound after touching the mentioned level to resume the overall bearish trend.
Therefore, we will continue to suggest the bearish trend on the intraday and short term basis unless breaching 0.9950 level and holding above it, noting that the waited targets begin at 0.9815 and extend to 0.9700.
Expected trading range for today is between 0.9840 support and 0.9950 resistance.
Expected trend for today: Bearish
Origin: Economies
