USDCHF resumes the decline – Analysis - 06-02-2017

The USDCHF pair tested the correctional bearish channel's resistance and bounced bearishly from there, to keep the bearish trend valid efficiently in the upcoming period, and the price is starting new test to 0.9915 level now, waiting to break this level to reinforce the expectations of heading towards 0.9783 as a next main station.

Therefore, we will be waiting for more decline on the intraday and short term basis, noting that breaching 0.9965 followed by 0.9996 levels will stop the suggested bearish trend and lead the price for recovery attempts and regain the main bullish trend.

Expected trading range for today is between 0.9830 support and 0.9996 resistance.

Expected trend for today: Bearish