The USDCHF pair breached the bearish channel’s resistance and settled above it, which might push the price to achieve intraday gains that target testing 0.9190 level, but we notice that stochastic shows clear negative signals that might press on the price to resume the main bearish trend.
Therefore, we prefer staying aside until the price confirms its situation according to the key levels represented by 0.9085 support and 0.9190 resistance, as breaking this support will push the price to return to the bearish track that its first target located at 0.9000, while breaching the resistance represents the key to achieve additional bullish correction that its next main target located at 0.9305.
The expected trading range for today is between 0.9050 support and 0.9170 resistance.
The expected trend for today: Neutral
Origin: Economies
