The USDCHF price traded positively yesterday to approach testing the correctional bearish channel’s resistance that appears on the chart, and it returns to decline and fluctuate near the key support 0.9900, which keeps the bearish trend scenario valid until now, and the price needs to break 0.9900 level to confirm heading towards 0.9835 that represents our next target.
Holding below 0.9990 is important to continue the expected decline, as breaching it will push the price to return to the main bullish trend that its next main target located at 1.0128.
Expected trading range for today is between 0.9850 support and 0.9990 resistance.
Expected trend for today: Overall Bearish
Origin: Economies
