The USDCHF hits the first target – Analysis - 23-03-2023

The USDCHF pair traded with clear negativity yesterday to succeed achieving our first target at 0.9150 and settles near it, waiting for more decline to surpass this level and open the way to visit the previous recorded low at 0.9060.

The negative effect of the descending triangle’s supports the continuation of the expected bearish trend, besides the negative pressure formed by the EMA50, noting that the continuation of the bearish wave requires holding below 0.9235 and the most important below 0.9316.

The expected trading range for today is between 0.9080 support and 0.9235 resistance.

The expected trend for today: Bearish