The USDCHF pair’s recent trades are confined inside a minor bullish channel that we believe it forms a bearish flag pattern, which means that breaking 0.9135 will provide negative breaking point that will push the price to resume the main bearish trend, which targets 0.9100 as a next station.
Currently the price hovers around 0.9160 below the 21 and 50 EMAs. Therefore, our bearish overview will remain valid unless breaking 0.9250 and holding above it, reminding you that breaking 0.9100 will push the price to 0.8990 as a next negative target.
The expected trading range for today is between 0.9100 support and 0.9200 resistance with a bearish outlook.
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