The USDCHF pair’s recent trades are confined within bearish pennant pattern that its signs appear on the chart, which means that breaking this pattern’s support line at 0.9150 will motivate the price to continue the decline on the intraday and short term basis, to head towards our negative targets that start at 0.9100 and extend to 0.8990 after breaking the previous level.
Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 0.9200.
The expected trading range for today is between 0.9100 support and 0.9200 resistance.
The expected trend for today: Bearish