USDCHF Price Analysis
Expected Scenario
The USDCHF price continues to press negatively on the critical support 0.9014$, which represents 23.6% Fibonacci correction level for the rise that appears on the chart, to hint heading to achieve bearish correction in the upcoming sessions, as the price completes forming double top pattern that we expect to push the price to visit 0.8840$ as a next negative station.
Therefore, the bearish bias will be suggested for today, supported by the negative pressure formed by the EMA50, taking into consideration that the consolidation of 0.9014$ level against the current negative pressure and failing to break it will lead the price to recover and resume the main bullish trend again.
Expected Trading Range
Between 0.8940 support and 0.9080 resistance.
Trend Forecast: Bearish
Origin: Economies
