The USDCHF pair tested the bearish channel’s resistance again and kept its stability below it, to keep the bearish trend scenario valid and active for the upcoming period, and the price needs to break 0.8785 to activate the negative effect of the technical formation that appears on the chart followed by rallying towards our main waited target at 0.8665.
Therefore, we will continue to suggest the bearish trend on the intraday basis unless breaching 0.8850 and holding with a daily close above it.
The expected trading range for today is between 0.8740 support and 0.8870 resistance.
The expected trend for today: Bearish
Origin: Economies
