The USD/CHF breaks the support – Analysis – 05/01/2021

usd_newsThe USDCHF pair managed to break 0.8820 and attempts to hold below it, which supports the continuation of our bearish overview efficiently in the upcoming sessions, on its way to visit 0.8730 as a next station.

Therefore, we will continue to suggest the bearish trend on the intraday and short term basis supported by the negative pressure formed by the EMA50, noting that holding below 0.8875 is important to continue the expected decline.

The expected trading range for today is between 0.8730 support and 0.8850 resistance.

The expected trend for today: Bearish

Origin: Economies

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