The USDCHF price traded with strong negativity yesterday to succeed achieving our waited target at 0.8885 and breaks it to close the daily candlestick below it, confirming extending the correctional bearish wave to target 0.8780 as a next negative station.
Therefore, we are waiting for more expected decline in the upcoming period, noting that breaching 0.8885 will stop the current negative pressure and lead the price to start recovery attempts on the intraday basis.
The expected trading range for today is between 0.8760 support and 0.8900 resistance.
Trend forecast: Bearish
Origin: Economies
