USDCHF attempts to breach – Analysis - 12-06-2017

The USDCHF pair attempted to breach 0.9700 level but it kept its stability below it, as it ended last week below this level, which keeps the bearish trend scenario valid for the upcoming period, supported by the negative signal provided by stochastic, waiting to target 0.9578 level as a next main station.

Therefore, the bearish bias will remain suggested unless the price settled above 0.9700, as breaching this level will push the pair to test 0.912 areas and might extend to 0.9864 before any new attempt to decline.

Expected trading range for today is between 0.9600 support and 0.9720 resistance.

Expected trend for today: Bearish