The USDCHF price managed to touch 0.8778 level, and by taking a deeper look at the chart, we find that the price completed forming head and shoulders’ pattern that we expect to push the price to break the mentioned level and open the way to rally towards 0.8673 areas direct.
Therefore, we expect to witness more decline in the upcoming period, noting that breaching 0.8805 will stop the suggested negative scenario and lead the price to recover and achieve gains that start by testing 0.8883.
The expected trading range for today is between 0.8710 support and 0.8830 resistance.
Trend forecast: Bearish
Origin: Economies
