Forex

The USDCHF attempts to recover – Analysis - 27-10-2020

2020-10-27 04:02:23 GMT (Economies.com)

The USDCHF pair achieved initial breach to the bearish channel’s resistance but it faced good resistance formed by the EMA50, which presses on the price to decline again, and it needs to trade below 0.9060 to confirm the return to the mentioned channel followed by resuming the main bearish trend.

 

Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 0.9090, reminding you that our main waited targets begin at 0.9010 and extend to 0.8930 after breaking the previous level.

 

The expected trading range for today is between 0.9000 support and 0.9100 resistance.

 

The expected trend for today: Bearish

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