The USDCHF pair’s recent trades are confined within bearish pennant’s pattern that appears on the chart, which means that breaking 0.9050 will activate the negative effect of this pattern and press on the price to continue the decline, targeting 0.8990 as a next target.
Therefore, the bearish trend scenario will remain suggested on the intraday and short term basis, supported by stochastic negativity, noting that breaching 0.9075 might push the price to test 0.9135 areas before any new attempt to decline.
The expected trading range for today is between 0.9000 support and 0.9090 resistance.
The expected trend for today: Bearish
Origin: Economies
