The USDCHF price managed to achieve our new target at 0.8455, noticing that the price rebounds upwards clearly to attack 0.8545 level, which hints the attempt to stop the negative pressure and head to recover on the intraday basis, while stochastic loses its positive momentum clearly to form negative pressure against the price.
Therefore, the price is facing contradiction between the technical factors that makes us prefer to stay aside until it confirms its situation according to 0.8455 level, noting that confirming breaching it will push the price to achieve more gains and test 0.8670 areas mainly, while consolidating below it will push the price to resume the bearish track and head towards 0.8335 areas on the near-term basis.
The expected trading range for today is between 0.8460 support and 0.8620 resistance.
Trend forecast: Bearish
Origin: Economies
