The USDCHF pair successfully reached the awaited target at 0.8968. It’s worth noting that the price has completed the formation of a double top pattern, which lends support to the likelihood of surpassing the aforementioned level and paving the way for the realization of additional downward objectives, with a target zone encompassing 0.8889.
Consequently, the prevailing bearish trend is expected to persist in the forthcoming period. It’s crucial to highlight that any inability to breach the 0.8968 level might trigger recovery efforts, with a primary aim to test the 0.9066 areas, particularly.
The envisaged trading range for today is situated between the support at 0.8890 and the resistance at 0.9035.
The overall trend for today is decidedly bearish.