USDCHF breaches the initial resistance – Analysis - 15-06-2017

The USDCHF pair rallied bullishly to breach 0.9700 level and settles above it, noticing that there is a positive technical formation under construction now, its confirmation line is located at 0.9725, which means that breaching this level will confirm the continuation of the bullish rally to test 0.9812 followed by 0.9864 levels before any new negative attempt.

Now, we suggest the return of the bearish bias domination on the upcoming trading conditioned by holding below 0.9725, reminding you that our first main target is located at 0.9578.

Expected trading range for today is between 0.9620 support and 0.9750 resistance.

Expected trend for today: Overall Bearish