USDCHF Price Analysis
The USDCHF price continues to exhibit a pronounced bearish bias, currently trading around 0.8950. This reinforces expectations for the continuation of the ongoing bearish trend, with the next downside target identified at 0.8885. A decisive break below this level is anticipated to further drive the price towards the next support area around 0.8780.
The bearish sentiment is substantiated by the presence of a double top pattern, which typically signifies a reversal signal, adding credibility to the sustained downward movement. For the bearish outlook to persist, it is imperative for the price to remain below the resistance level at 0.9014 and sustain this position.
Expected Trading Range
Today’s trading range is expected to fluctuate between a support level of 0.8870 and a resistance level of 0.9010.
Trend Forecast: Bearish
