The USDCHF pair succeeded to achieve our main waited target at 0.9859 and achieved strong break to this level and settled below it, which opens the way towards extending the bearish wave on the short and medium term basis, waiting for achieving more of the negative targets that reach 0.9700 initially.
Therefore, the bearish trend will remain the dominant in the upcoming sessions, supported by stochastic reach to the overbought levels, being aware that breaching 0.9859 level will push the price to test the bearish channel’s resistance at 0.9960 before any new attempt to decline.
Expected trading range for today is between 0.9770 support and 0.9900 resistance.
Expected trend for today: Bearish