The USDCHF pair bounced downwards clearly after facing the resistance that appears on the chart, to hint heading to resume the bearish track within the mentioned bearish channel, but we notice that the EMA50 formed solid support against the price, accompanied by witnessing clear positive signals through stochastic, which might assist to push the price to rise again.
Therefore, the contradiction between the technical factors makes us prefer to stay aside now, noting that breaking 0.8775 support will push the price to continue the decline and head towards testing 0.8665 as a next negative station, while breaching 0.8855 resistance represents the key to resume the main bullish trend and head to achieve new gains that start by visiting 0.9000 areas.
The expected trading range for today is between 0.8740 support and 0.8900 resistance.
The expected trend for today: Neutral
Origin: Economies
