The USDCHF price provided clear negative trades yesterday to move away from 0.8780 level and approach the new waited target at 0.8673, affected by the previously completed head and shoulders’ pattern to support the chances of surpassing this level and open the way to achieve additional negative targets that reach 0.8545 on the near-term basis.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 0.8780 will lead the price to achieve intraday gains and visit 0.8885 before detecting the next destination clearly.
The expected trading range for today is between 0.8640 support and 0.8790 resistance.
Trend forecast: Bearish
Origin: Economies
