Forex

The USDCHF breaks the support – Analysis - 22-01-2021

2021-01-22 05:18:31 GMT (Economies.com)

The USDCHF pair succeeded to break 0.8860 level and closed the daily candlestick below it, which supports the continuation of our bearish overview efficiently in the upcoming sessions, as the price completed forming the triple top pattern that its signs appear on the chart, paving the way to visit 0.8760 that represents our next target.

 

Therefore, we will continue to suggest the bearish trend on the intraday and short term basis, noting that holding below 0.8860 represents initial condition to continue the expected decline.

 

The expected trading range for today is between 0.8780 support and 0.8890 resistance.

 

The expected trend for today: Bearish

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