The EURCHF pair recently concluded a bullish rally, reaching the 61.8% Fibonacci retracement level at 0.9650, where it encountered significant resistance. This resistance has triggered a correction, with the price now settling around 0.9595, indicating the start of a bearish rebound.
Additionally, the stochastic indicator has exited the overbought zone, further confirming the dominance of the bearish correction. As a result, the pair is expected to continue its negative momentum, with potential targets at 0.9550 and 0.9530.
The anticipated trading range for EURCHF today is between 0.9530 and 0.9620.
Trend Forecast: Bearish
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