The USDCHF price provided positive trades in the previous sessions, but it returns to decline after recording lower high as appears on the chart, to start forming double top pattern that might push the price to surpass our waited negative target at 0.8778 and achieve more decline on the intraday and short-term basis.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 0.8883 will stop the negative scenario and lead the price to rise again.
The expected trading range for today is between 0.8755 support and 0.8890 resistance.
Trend forecast: Bearish
Origin: Economies
