USDCHF loses the positive momentum – Analysis - 13-06-2017
Economies.com
2017-06-13 01:10AM UTC
The USDCHF pair hovers near the EMA50 since yesterday keeping its stability below 0.9700 level, noticing that stochastic loses its positive momentum clearly to reach the overbought levels, which forms negative motive that we wait to push the price to resume the bearish trend in the upcoming sessions, targeting testing 0.9578 level initially.
Therefore, we will keep preferring the bearish trend for today unless breaching 0.9700 level and holding above it, reminding you that breaking 0.9578 will extend the bearish wave to reach 0.9347 as a next main target.
Expected trading range for today is between 0.9600 support and 0.9720 resistance.
Expected trend for today: Bearish
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