The USDCHF pair has found stability below the 0.9066 level, reinforcing the scenario of a corrective bearish trend. The immediate target within this trend is 0.8970.
The bearish channel serves as a guideline for the anticipated bearish wave, and it receives strong backing from the EMA50. It is imperative for the pair to maintain a position below 0.9066 in order to sustain the anticipated decline.
The projected trading range for today is likely to fluctuate between the support at 0.8960 and resistance at 0.9090.
The prevailing trend for today is expected to be bearish.