The USDCHF pair approached our waited target at 0.9435, and begins to rebound bearishly to approach the intraday bullish channel’s support line that appears on the chart, which we believe that it forms bearish flag pattern that supports the chances of resuming the bearish trend, as the price needs to break 0.9315 to confirm rallying towards the first negative target at 0.9187.
Therefore, the bearish trend will be expected for today, supported by stochastic negativity, taking into consideration that breaching 0.9435 will lead the price to achieve more gains and head towards 0.9588 on the near term basis.
The expected trading range for today is between 0.9250 support and 0.9400 resistance.
The expected trend for today: Bearish
Origin: Economies
