The USDCHF pair continues its decline, successfully breaching the crucial support level at 0.9066 and settling below it. This break opens the path for further correctional bearish targets, potentially reaching the 0.8970 area. Expectations point to more declines in the upcoming sessions.
The presence of the EMA50 adds to the downward pressure, reinforcing the bearish bias for the intraday outlook. However, it’s worth noting that if the pair fails to consolidate below 0.9066, there may be room for a bullish wave to develop, attempting an intraday recovery.
The expected trading range for today is between 0.8970 support and 0.9100 resistance.
Expected trend for today: Bearish