The USDCHF touches the target – Analysis - 18-08-2022
Economies.com
2022-08-18 04:14AM UTC
The USDCHF pair managed to achieve our waited target at 0.9530 and finds good resistance there, noticing that the recent rise is confined within minor bullish channel that we believe it forms bearish flag pattern, thus, breaking 0.9470 will activate the negative effect of this pattern and press on the price to decline towards 0.9400 initially.
Therefore, the bearish bias will be suggested for today unless the price rallied to breach 0.9530 and hold above it.
The expected trading range for today is between 0.9440 support and 0.9560 resistance.
The expected trend for today: Bearish
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