The USDCHF pair continues to rise to breach 0.8965 level and attack 0.8980, which urges caution from the upcoming trading, as breaching the last level will cancel the negative effect of the double top pattern and lead the price to start new bullish wave, its targets begin at 0.9055.
On the other hand, we notice that the technical indicators provide clear negative signals that might assist to push the price to resume the main bearish trend.
Therefore, the contradiction between the technical indicators makes us prefer to stay aside until the price confirms breaching 0.8980 resistance or breaking 0.8965 support, noting that breaking this support will push the price to resume the bearish trend and head towards 0.8850 followed by 0.8820 areas mainly.
The expected trading range for today is between 0.8910 support and 0.9060 resistance.
The expected trend for today: Neutral
Origin: Economies
