The USDCHF pair rallied bullishly yesterday to breach the bearish channel’s resistance and settles above it, to hint the price head to start bullish correction for the last bearish wave, but we notice that the price still below the critical horizontal resistance at 0.9186, while stochastic provides clear negative signals that might push the price to decline again.
Therefore, this contradiction between the technical factors makes us prefer staying aside until we get clearer signal for the next trend, noting that breaching 0.9186 will lead the price to start bullish correction that its first target located at 0.9305, while breaking 0.9110 will push the price back to the main bearish track that its first target located at 0.9000.
The expected trading range for today is between 0.9060 support and 0.9200 resistance.
The expected trend for today: Depends on the above mentioned levels
Origin: Economies
