The USDCHF pair continued to decline to surpass our new waited target at 0.8600, confirming opening the way to continue the decline on the short term and medium-term basis, waiting to test 0.8520 as a next negative station, noting that surpassing this level will push the price to 0.8450 as a next main target.
Therefore, the bearish trend will remain valid and active unless breaching 0.8690 and holding above it, as breaching this level will push the price to achieve some intraday bullish correction before turning back to decline again.
The expected trading range for today is between 0.8480 support and 0.8630 resistance.
The expected trend for today: Bearish
Origin: Economies
