The USDCHF awaits more decline – Analysis - 05-12-2022

Economies.com
2022-12-05 04:47AM UTC

The USDCHF pair shows new negative trades by today’s open to break 0.9355 level and attempts to hold below it, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, reminding you that our next target is located at 0.9300, which breaking it represents the key to head towards 0.9240 as a next negative station.

 

Holding below 0.9390 represents the first condition to continue the expected decline, as breaching it might push the price to achieve intraday gains that start by testing 0.9460 level and might extend to 0.9540 before any new attempt to decline.

 

The expected trading range for today is between 0.9270 support and 0.9400 resistance.

 

The expected trend for today: Bearish

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