The USDCHF approaches the target – Analysis - 09-07-2020

The USDCHF pair provided clear negative trades yesterday to approach our waited target at 0.9351, falling under continuous negative pressure coming by the EMA50, which supports the chances of surpassing the mentioned level and open the way to extend the bearish wave on the short term basis, noting that breaking this level will push the price to 0.9275 as a next station.

Therefore, we will continue to suggest the bearish trend unless the price rallied to breach 0.9456 level and hold above it.

The expected trading range for today is between 0.9300 support and 0.9420 resistance.

The expected trend for today: Bearish