The USDCHF price bounced bearishly after retesting the broken neckline of the head and shoulders’ pattern, to keep the negative effect of this pattern active, waiting to achieve our negative targets that start at 0.8780 and extend to 0.8675 after breaking the previous level.
The EMA50 presses negatively on the price to support the continuation of the expected bearish trend, which will remain valid unless breaching 0.8885 and holding above it.
The expected trading range for today is between 0.8740 support and 0.8885 resistance.
Trend forecast: Bearish
Origin: Economies
