The EURCHF pair has reaffirmed its bearish bias with consistent closes below the key resistance level at 0.9690. The pair has steadily traded below the MA55 and is currently hovering around 0.9570.
The ongoing resilience of the mentioned resistance and the negative signals from the stochastic indicator suggest a continuation of the bearish sentiment. As a result, it is anticipated that the pair may target the support line at 0.9520. In the event of a breach, further losses could extend towards 0.9460, with the possibility of reaching the historical support level at 0.9390.
The expected trading range for the day is anticipated to be between 0.9600 and 0.9520.
Today’s expected trend: Bearish