The USD/CHF surpasses the target – Analysis – 31/12/2019

chf_forexThe USDCHF pair managed to surpass 0.9712 level and closed the daily candlestick below it, to support the continuation of the bearish trend scenario efficiently in the upcoming sessions, paving the way to visit 61.8% Fibonacci correction level at 0.9588.

Therefore, we will continue to suggest the bearish trend on the intraday and short term basis, noting that breaching 0.9712 will lead the price to start intraday recovery attempts that target testing 0.9836 areas initially.

The expected trading range for today is between 0.9600 support and 0.9730 resistance.

The expected trend for today: Bearish

Origin: Economies

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