The USDCHF price provided additional positive trades to retest the broken neckline of the head and shoulders’ pattern that appears on the chart, and the EMA50 meets this level to add more strength to it, while stochastic shows clear overbought signals now.
Therefore, we believe that the chances valid to resume the expected bearish trend for the upcoming period, which its next target located at 0.8780, reminding you that it is important to hold below 0.8885 to continue the suggested decline.
The expected trading range for today is between 0.8790 support and 0.8920 resistance.
Trend forecast: Bearish
Origin: Economies
