The USD/CHF pair has successfully breached the critical support level at 0.8810, closing the daily candle below it. This development reinforces the anticipated bearish trend in both the intraday and short-term scenarios, with the next target set at 0.8710. The bearish outlook is influenced by the presence of a double top pattern visible on the chart.
The EMA50 continues to provide support for the anticipated decline. It is noteworthy that a breach of 0.8810 could trigger some upward movement, potentially leading the price to test the 0.8888 areas before any renewed attempts at a decline.
The projected trading range for the current session is expected to fluctuate between the support level at 0.8720 and resistance at 0.8850.
Today’s anticipated trend: Bearish