The USDCHF pair has demonstrated positive movements at the opening of today’s trading session, and it is approaching a potential test of the correctional bearish channel’s resistance. However, it’s essential to note that the stochastic indicator is showing a clear loss of positive momentum. This development may act as a catalyst for the resumption of the expected bearish trend in the near future.
The next target for the expected bearish movement is at 0.8885. It’s worth noting that breaking this targeted level would extend the bearish wave, with the price potentially reaching 0.8810. The expected decline will remain valid as long as the price maintains its stability below 0.8968.
The anticipated trading range for today is between the support at 0.8860 and the resistance at 0.9000. As of now, the expected trend for today seems to be bearish.