Forex

The USDCHF tests the resistance – Analysis - 23-10-2020

2020-10-23 04:03:21 GMT (Economies.com)

The USDCHF pair tested the bearish channel’s resistance and keeps its stability below it until now, as the EMA50 meets this resistance to add more strength to it, while stochastic begins providing the negative signals on the four hours’ time frame.

 

Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, which targets 0.9010 level as a next station, while holding below 0.9100 represents key condition to continue the expected decline.

 

The expected trading range for today is between 0.9000 support and 0.9120 resistance.

 

The expected trend for today: Bearish

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