The USD/CHF pair maintained its downward trajectory, exhibiting considerable bearish momentum. In the latest session, the pair not only fulfilled the extended target at 0.8430 but continued its descent, setting a course for new levels around 0.8300.
Today’s trading activity suggests a persistent bearish trend prevailing in both the short-term and medium-term perspectives. The ongoing decline is anticipated to persist, with a focus on testing the 0.8300 support level.
It’s crucial to note that a potential shift in the prevailing negative sentiment could occur upon breaching the 0.8500 level. Such a move would alleviate the current downward pressure and might prompt a temporary bullish correction.
In summary, the anticipated trading range for today is expected to oscillate between the support level at 0.8320 and the resistance at 0.8460.
Expected Trend for Today: Bearish