USDCHF breaks the support – Analysis - 11-08-2017
Economies.com
2017-08-11 04:15AM UTC
The USDCHF pair resumed its negative trading after the EMA50 formed solid resistance against the recent attempts to rise, to break the key support 0.9625 and close yesterday's trading below it, which stops the recently suggested positive scenario and push the price to turn to decline, targeting testing 0.9578 level initially, noting that breaking this level will open the way to head towards 0.9430 as a next main station.
Therefore, the bearish trend will be expected in the upcoming sessions unless the price managed to breach 0.9700 level and hold above it again.
Expected trading range for today is between 0.9540 support and 0.9700 resistance.
Expected trend for today: Bearish
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