USDCHF faces solid support – Analysis - 16-01-2017

Economies.com
2017-01-16 05:11AM UTC

The USDCHF pair attempted to break 1.0062 level without managing to hold below it, which pushes the price to provide positive trading approaching from testing 1.0128 level, which represents the first protecting factor to the continuation of the recently suggested bearish trend scenario, as the EMA50 meets the mentioned level to add more strength to it, which keeps the negative pressure valid until now.

 

Therefore, the bearish bias will remain suggested in the upcoming period, and the main waited target is located at 0.9996, noting that breaching 1.0128 followed by 1.0210 levels will stop the current negative pressure and lead the price to regain its main bullish track.

 

Expected trading range for today is between 1.0000 support and 1.0170 resistance.

 

Expected trend for today: Bearish

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