The USDCHF price under the negative pressure – Forecast today - 19-04-2024

USDCHF Price Analysis

Expected Scenario

• The USDCHF price begins today with strong decline to attack the bullish channel’s support line and hint the attempt to start bearish correction for the rise that started from 0.8332$ areas, affected by stochastic negativity, making the bearish bias suggested in the upcoming sessions, noting that the first target is located at 0.8960.
• We expect to witness negative trades on the intraday basis, taking into consideration that consolidation above 0.9065 will stop the expected decline and lead the price to resume the main bullish trend again.

Expected Outcome

The expected trading range for today is between 0.8980 support and 0.9130 resistance.