The USDCHF price returns to test the EMA50 that forms good resistance against the price, and the bearish trend still valid as long as 0.9014 remains intact, waiting to test 0.8885 as a next main target, which represents 38.2% Fibonacci correction level for the entire rise from 0.8332 to 0.9224, thus, breaking it will extend the bearish wave to reach 0.8780.
On the other hand, we should note that breaching 0.9014 will stop the correctional bearish scenario and lead the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 0.8880 support and 0.9014 resistance.
Trend forecast: Bearish
Origin: Economies
