The USDCHF breaks the support – Analysis - 19-05-2022
Economies.com
2022-05-19 04:09AM UTC
The USDCHF pair faced strong negative pressure yesterday to break the bullish channel’s support line and start pressing on 23.6% Fibonacci correction level, to pave the way to achieve bearish correction for the rise measured from 0.9195 to 1.0064, noting that the next target is located at 0.9732.
Therefore, the bearish bias will be suggested in the upcoming sessions, taking into consideration that the consolidation of 0.9860 level against the current negative pressure will stop the expected decline and lead the price to resume the main bullish trend again.
The expected trading range for today is between 0.9800 support and 0.9900 resistance.
The expected trend for today: Bearish
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