The USDCHF hits the first target – Analysis - 18-11-2022

The USDCHF pair managed to achieve our first positive target at 0.9500 and approached the second target at 0.9575, but it faces solid resistance formed by 23.6% Fibonacci correction level for the decline measured from 1.0147 to 0.9356, to face contradiction between the technical factors that makes us prefer to stay aside until we get clearer signal for the next trend.

Note that breaching 0.9545 will lead the price to achieve additional bullish correction that its next target reaches 0.9660, while breaking 0.9470 support will press on the price to resume the main bearish trend and head towards 0.9356 areas mainly.

The expected trading range for today is between 0.9440 support and 0.9600 resistance.

The expected trend for today: Neutral