USD CHF under the negative pressure – Analysis - 07/10/2015

The USDCHF pair declined clearly yesterday to break 0.9700 level and settle below it, which puts the price under negative pressure that its targets begin by testing 0.9615 level, being aware that it’s important to monitor the price behavior when reaching this level, as breaking it represents the key to extend the bearish wave to target 0.9525 level as a next main station.

Stochastic current positivity might assist to push the price for some temporary bullish bias, but it general, the negative pressure will remain valid until the price manages to breach 0.9700 level and hold above it.

Expected trading range for today is between 0.9650 support and 0.9725 resistance.

Expected trend for today: Bearish