The USDCHF pair rallied upwards strongly yesterday to attack the main bearish channel’s resistance, to hint the attempt to recover and achieve some intraday bullish correction, but it faces negative factors provided by the technical indicators now, which might push the price to return to the main bearish track again.
Therefore, we prefer to stay aside until the price confirms its situation according to 0.8655, noting that holding above it will lead the price to achieve more bullish correction that its next targets reach 0.8720 and 0.8770 levels, while breaking it and trading below it again will reactivate the main bearish trend scenario that its next target located at 0.8520.
The expected trading range for today is between 0.8580 support and 0.8720 resistance.
The expected trend for today: Neutral
Origin: Economies
