The USDCHF price traded with clear negativity yesterday to approach our waited target at 0.8885, showing some bullish bias affected by stochastic positivity, while the EMA50 forms continuous negative pressure against the price, waiting to resume the correctional bearish wave that its targets extend to reach 0.8780 after breaking the previous level.
Therefore, the bearish trend will remain valid for the upcoming period unless the price rallied to breach 0.9014 and hold above it.
The expected trading range for today is between 0.8890 support and 0.9014 resistance.
Trend forecast: Bearish
Origin: Economies
