USDCHF faces solid support – Analysis - 20-02-2017

Economies.com
2017-02-20 05:30AM UTC

The USDCHF pair found solid support at 0.9973 that forced the price to rebound upwards clearly and approach from testing the key resistance 1.0043, accompanied by stochastic losing its bullish momentum on the four hours' time frame, forming negative factor that we expect to push the price to rebound bearishly and resume the bearish trend again.

 

Therefore, we will continue to suggest the overall bearish trend in the upcoming period conditioned by holding below 1.0043, noting that breaking 0.9973 will ease the mission of heading towards our next main target at 0.9859.

 

Expected trading range for today is between 0.9950 support and 1.0060 resistance.

 

Expected trend for today: Bearish

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