USDCHF begins to decline – Analysis - 07-05-2018
Economies.com
2018-05-07 04:03AM UTC
The USDCHF pair attempted to surpass the psychological barrier 1.0000 but it failed to reach last Novermber recorded top at 1.0036, to start bouncing bearishly and break the bullish channel’s support line that appears on the minor chart, which hints heading to start bearish correction on the intraday and short term basis, as the first correctional level is located at 0.9824.
Therefore, we expect witnessing negative trading in the upcoming sessions unless the price managed to rally upwards to breach 1.0036 level and hold above it.
Expected trading range for today is between 0.9900 support and 1.0040 resistance.
Expected trend for today: Bearish
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