Forex

The USDCHF tests the resistance – Analysis - 21-01-2021

2021-01-21 05:02:22 GMT (Economies.com)

The USDCHF pair rose temporarily yesterday to test 0.8923 and rebound bearishly from there, on its way to visit 0.8860 level, noticing that stochastic provides negative overlapping signal that we are waiting to motivate the price to break the mentioned level and open the way to extend the bearish wave towards 0.8760.

 

Therefore, we will keep our bearish overview for the upcoming period unless the price rallied to breach 0.8923 and hold above it.

 

The expected trading range for today is between 0.8800 support and 0.8925 resistance.

 

The expected trend for today: Bearish

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