The EUR/CHF pair concluded its bullish correction after testing the 50% Fibonacci retracement level at 0.9570, leading to renewed negative pressure on the support at 0.9485.
With the price consolidating within the main bearish channel and Stochastic indicators adding to the negative momentum, there is a strong possibility of breaking the current support. This could pave the way for further declines, targeting 0.9425 initially and potentially reaching the 23.6% Fibonacci level at 0.9378.
Today’s expected trading range is between 0.9520 and 0.9425.
Trend Forecast: Bearish
Related topics: