USD CHF approaches from the support – Analysis - 09/02/2016

The USDCHF pair surpasses 0.9900 level to head towards 0.9800 direct, which represents key support for the short term trading, breaking it will put the price under negative pressure that leads trading towards 0.9676 followed by 0.9474 mainly.

However, until now, we are still neutral, waiting to get clearer confirmation signal for the next trend, which we will get through breaking 0.9800 support or breaching 1.0000 resistance, noting that breaching this resistance will stop the current negative pressure and put the price back into its main bullish track.

Expected trading range for today is between 0.9700 support and 1.0000 resistance.

Expected trend for today: Depends on the above mentioned levels