USD CHF under the negative pressure – Analysis - 05/02/2016

The USDCHF pair continued the decline to break 1.0000 and push on the bullish trend lines that appear on image, to settle at 50% Fibonacci level located at 0.9900, which makes us stop the recently suggested positive overview and stay aside temporarily, waiting to get clearer confirmation signal for the next trend, which we will get through breaching one of the key levels represented by 0.9800 support and 1.0000 resistance.

Note that breaking the mentioned support will push the price to achieve more decline that its targets begin at 0.9676 and extend to 0.9474, while breaching 1.0000 represents the first key to regain the main bullish trend, which its next target located at 1.0330.

Expected trading range for today is between 0.9800 support and 1.0050 resistance.

Expected trend for today: Depends on the above mentioned levels