The USDCHF pair managed to achieve our first negative target at 0.8860 and broke it to close the daily candlestick below it, confirming the continuation of the bearish trend domination in the upcoming sessions, approaching our next target at 0.8800 now, noting that surpassing this level will push the price to 0.8705 areas as a next main station.
Therefore, we will continue to suggest the bearish trend on the intraday and short term basis, organized inside the bearish channels that appear on the chart, taking into consideration that breaching 0.8860 will push the price to achieve intraday gains and test the bearish channel’s resistance around 0.8975 before any new attempt to decline.
The expected trading range for today is between 0.8740 support and 0.8890 resistance.
The expected trend for today: Bearish
Origin: Economies
