The USDCHF pair provided positive trades yesterday to approach the EMA50 that continues to form negative pressure against the price, noticing that stochastic lost its positive momentum to show clear overbought signals, which forms negative motive that we expect to push the price to resume the main bearish trend, which its next target located at 0.8800.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 0.8970 will stop the negative scenario and lead the price to start correctional bullish wave on the intraday basis.
The expected trading range for today is between 0.8830 support and 0.8970 resistance.
The expected trend for today: Bearish
Origin: Economies
