USDCHF achieves the waited targets – Analysis - 16-03-2017

The USDCHF pair traded with strong negativity yesterday to surpass our initial target at 1.0043 and approaches from our second target at 0.9973, which supports the continuation of the expected bearish trend on the intraday and short term basis, pointing that breaking the last level will extend the bearish wave to reach the recorded bottom at 0.9859.

Therefore, we keep preferring the bearish trend in the upcoming sessions unless breaching 1.0043 level and holding above it, where breaching this level will lead the price to test 1.0100 and might extend to 1.0157 level before any new attempt to decline.

Expected trading range for today is between 0.9900 support and 1.0043 resistance.

Expected trend for today: Bearish