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The USD/CHF begins to retreat – Analysis – 24/12/2020

The USDCHF pair could not manage to consolidate above 0.8900 barrier, to trade negatively and head towards resuming the main bearish trend, which stops the recently suggested positive scenario and presses on the price to decline again, on its way to test 0.8820 initially, noting that breaking this level will push the price to 0.8730 as a next negative target.

Therefore, the bearish bias will be expected for the upcoming period unless breaching 0.8915 level and holding above it.

The expected trading range for today is between 0.8800 support and 0.8915 resistance.

The expected trend for today: Bearish


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