The USDCHF approaches the target – Analysis - 22-10-2020

The USDCHF pair continues to approach our waited target at 0.9010, and it shows some temporary bullish bias on its way for potential visit to the bearish channel’s resistance that appears on the chart before turning back to decline again, noticing that stochastic loses its positive momentum clearly to support the continuation of the overall negative scenario.

Therefore, our bearish overview will remain valid for the upcoming period, noting that breaking the targeted level will extend the bearish wave to reach 0.8930 as a next negative station, while breaching 0.9095 represents the key to achieve intraday gains that target testing 0.9192 areas before any new attempt to decline.

The expected trading range for today is between 0.8990 support and 0.9100 resistance.

The expected trend for today: Bearish