The USDCHF pair bounced clearly to the upside after approaching from 0.9500 barrier, to retest the key resistance 0.9634, which forms the first protecting factor to the continuation of our bearish trend overview, noticing that stochastic loses its positive momentum to show clear overbought signals.
Therefore, we believe that the chances are valid to trade negatively in the upcoming sessions, and the main target is located at 0.9442, noting that breaching 0.9634 level will lead the price to achieve more gains that target testing the next key resistance at 0.9752 before turning back to decline.
Expected trading range for today is between 0.9500 support and 0.9700 resistance.
Expected trend for today: Bearish
Origin: Economies
