The USDCHF pair retested the previously broken neckline of the double top pattern that appears on the chart and rebounds bearishly from there, accompanied by witnessing clear negative signals through stochastic, which reinforces the expectations of continuing the bearish trend on the intraday basis, which targets testing 0.9945 level mainly.
The EMA50 supports the expected decline, noting that breaking the targeted level will extend the bearish wave to reach 0.9800 on the near term basis, while breaching 1.0100 will stop the suggested negative scenario and lead the price to regain the main bullish trend again.
The expected trading range for today is between 0.9960 support and 1.0080 resistance.
The expected trend for today: Bearish