The USDCHF price faces negative pressure to test the bullish channel’s support line that appears on the chart, which meets the breached resistance of the main bearish channel, which forms key cluster support area at 0.8770, hinting the attempt to exit the bullish track to return to the main bearish trend again.
Now, we prefer to stay aside until the price confirms its situation according to 0.8770 level, noting that consolidating above it will push the price to resume the bullish wave that its next main target reaches 0.9000, while breaking it will push the price to decline again and achieve negative targets that start at 0.8690 followed by 0.8625.
The expected trading range for today is between 0.8700 support and 0.8855 resistance.
Trend forecast: Neutral
Origin: Economies
