USDCHF loses momentum – Analysis - 03-07-2017

The USDCHF pair shows some bullish bias to test 0.9600 barrier now, noticing that stochastic loses its positive momentum clearly to reach the overbought areas, while the EMA50 keeps forming negative pressure against the intraday trading.

Therefore, we will continue to suggest the bearish trend on the intraday and short term basis, noting that our next target is located at 0.9347, while breaching 0.9640 will stop the expected decline and lead the price to test 0.9700 and might extend to 0.9812 levels before any new attempt to decline.

Expected trading range for today is between 0.9500 support and 0.9640 resistance.

Expected trend for today: Bearish