The USDCHF pair rallied bullishly to test the most important resistance to the short term trading at 0.9676, and as we mentioned in our recent reports, holding below this level keeps the bearish trend valid on the intraday and short term basis, which its targets begin by testing the previously recorded low at 0.9474.
Therefore, we believe that the chances are valid to rebound bearishly in the upcoming sessions especially that stochastic shows clear overbought signals now, taking into consideration that breaching 0.9676 level will lead the price for more recovery that its next targets reach to 0.9800.
Expected trading range for today is between 0.9525 support and 0.9720 resistance.
Expected trend for today: Bearish
Origin: Economies
