USDCHF achieves some gains – Analysis - 24-03-2017

The USDCHF pair shows more sideways trading to approach from testing the key resistance 0.9973, which is met by the EMA50 to add more strength to it, while stochastic moves at the overbought areas.

Therefore, these factors encourage us to suggest bearish rebound in the upcoming sessions to resume the bearish bias inside the bearish channel that appears on chart, waiting to head towards 0.9859 as a next main station, noting that breaching 0.9973 followed by 0.9995 will stop the expected decline and lead the price to achieve more gains on the short term basis.

Expected trading range for today is between 0.9859 support and 0.9995 resistance.

Expected trend for today: Bearish