USDCHF breaks the channel's support – Analysis - 22-08-2017

The USDCHF pair achieved initial break to the minor bullish channel's support that appears on chart, to get negative motive that supports the continuation of the bearish trend scenario in the upcoming period, as the price falls under the negative pressure provided by the EMA50, waiting to break 0.9578 level to confirm the continuation of the bearish wave on the short term basis.

Therefore, our bearish overview will remain valid and active, and breaking 0.9578 will push the price to head towards 0.9437 as a next main station, while holding below 0.9700 and 0.9765 represents key condition to continue the expected decline.

Expected trading range for today is between 0.9550 support and 0.9700 resistance.

Expected trend for today: Bearish