The USDCHF pair has continued its ascent, retesting the neckline of the double top pattern. Furthermore, the EMA50 coincides with this level, providing additional reinforcement. The price is currently poised to resume the negative trajectory, with initial targets commencing upon a breach of the 0.8968 level. This would pave the way for a potential move towards 0.8889.
Consequently, the bearish trend scenario will remain in effect, provided that the price remains stable below 0.9020.
The anticipated trading range for today is expected to fluctuate between support at 0.8940 and resistance at 0.9060.
In summary, the prevailing trend for today is projected to be bearish, with the USDCHF pair retesting the double top pattern’s neckline, which may result in further declines.