USDCHF Price Awaits More Bearish Correction – Forecast for June 20, 2024

by Jennifer

USDCHF Price Analysis

Expected Scenario


The USDCHF pair has been trading within a narrow range around the 0.8840 level since yesterday, poised to resume its corrective bearish movement. The next target for this correction is located at 0.8780, with a potential further decline towards the 61.8% Fibonacci correction level at 0.8675 upon breaching this level. It’s crucial for the price to remain below 0.8885 to sustain the expected downward trajectory. Conversely, a break above 0.8885 could signal a halt to the bearish correction and initiate gains towards the 0.9014 region.


Expected Trading Range

For today, the expected trading range for USDCHF is between the 0.8760 support and the 0.8900 resistance.

Trend Forecast: Bearish

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