The USDCHF pair succeeded to break the key support 0.9700 and closed the daily candlestick below it, which reinforces the expectations of continuing the bearish trend on the intraday and short term basis, and the way is open to head towards 0.9578 that represents our next main target.
Therefore, the bearish bias will be suggested for today supported by the negative pressure formed by the EMA50, noting that holding below 0.9700 represents the first protection factor to the continuation of the suggested decline.
Expected trading range for today is between 0.9600 support and 0.9720 resistance.
Expected trend for today: Bearish
Origin: Economies
