Forex

The USDCHF reaches the target – Analysis - 06-08-2020

2020-08-06 03:57:52 GMT (Economies.com)

The USDCHF pair succeeded to reach our main waited target at 0.9056, showing some slight bullish bias to head towards testing the bearish channel’s resistance that appears on the chart, waiting to resume the main bearish trend and breaking the mentioned level to open the way to head towards 0.8930 as a next main station.

 

Therefore, the negative scenario will remain valid for the upcoming period, noting that breaching 0.9100 will push the price to test 0.9153 initially before any new attempt to decline.

 

The expected trading range for today is between 0.9000 support and 0.9140 resistance.

 

The expected trend for today: Bearish

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