USDCHF resumes the decline – Analysis - 21-07-2017
Economies.com
2017-07-21 03:33AM UTC
The USDCHF pair resumed its negative trading strongly yesterday after retesting 0.9578 level, as the EMA50 formed strong negative pressure that pushed the price to decline and settle at the bearish channel's support line that appears on chart, which supports the expectations of continuing the bearish trend in the upcoming period, waiting to visit 0.9347 level mainly.
Holding below 0.9578 represents key condition to continue the suggested bearish trend, as breaching it will lead the price to achieve intraday gains and test 0.9700 areas before any new attempt to decline.
Expected trading range for today is between 0.9420 support and 0.9580 resistance.
Expected trend for today: Bearish
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