The USDCHF pair shows some slight bullish bias after testing the intraday channel’s support line that appears on the chart, but as long as the price is below 1.0128, our bearish overview will remain valid for the upcoming period, supported by the negative pressure formed by the EMA50, besides stochastic reach to the overbought areas.
Note that breaking 1.0040 is required to confirm heading towards 0.9935 as a next negative target, while breaching 1.0128 will stop the suggested negative scenario and push the price to rise again.
The expected trading range for today is between 1.0000 support and 1.0128 resistance.
The expected trend for today: Bearish
Origin: Economies
