The USDCHF achieves intraday gains – Analysis - 03-08-2022

The USDCHF pair provided clear positive trades yesterday to breach 0.9530, but it faces solid resistance formed by the EMA50 at 0.9585, to force the price to rebound bearishly by today’s open, accompanied by witnessing clear negative signals through stochastic now.

Therefore, these factors encourage us to suggest the bearish bias in the upcoming sessions, and the targets begin by breaking 0.9530 again to reinforce the chances of continuing the negative scenario that its next target reaches 0.9400, noting that the continuation of the bullish wave requires holding below 0.9585 and the most important below 0.9630.

The expected trading range for today is between 0.9480 support and 0.9600 resistance.

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The expected trend for today: Bearish