The USDCHF pair bounced downwards strongly after finding solid resistance at 38.2% Fibonacci correction level, to start pressing on 0.8860 level and attempts to break it, which pushes the price to resume the main bearish trend and stop the recently suggested correctional positive scenario, expecting to head towards 0.8815 areas initially, noting that breaking this level will push the price to 0.8760 as a next target.
Therefore, we expect the domination of the bearish trend in the upcoming sessions unless the price rallied to breach 0.8925 and hold above it.
The expected trading range for today is between 0.8780 support and 0.8900 resistance.
The expected trend for today: Bearish
Origin: Economies
