The USD/CHF pair experienced additional downward movement in recent trading sessions, successfully surpassing the first extended target at 0.8660. This development confirms the continuation of the bearish trend prevailing on both intraday and short-term charts. The bearish momentum is well-defined within a downward channel, supporting the likelihood of further downside movement towards the previous low at 0.8552.
Given this scenario, the outlook suggests a persistently bearish trend unless there is a significant rally that manages to breach the 0.8710 level and sustain trading above it.
The anticipated trading range for the current session is expected to find support around 0.8570, with resistance likely at 0.8710.
Expected Trend for Today: Bearish