USDCHF surpasses the first target – Analysis - 01-02-2017

The USDCHF pair continued its negative trading to surpass our first waited target at 0.9915 and settles below it, noticing that the price found good support at the second target 0.9864, which pushes trading to retest the first level, waiting to rebound bearishly to resume the bearish trend on the short term basis, which is organized inside the bearish channel that appears on the above chart, supported by the negative pressure provided by the EMA50.

Therefore, the bearish trend will remain suggested in the upcoming period unless breaching 0.9915 and the most important 0.9996 levels and holding above them, noting that our next target is located at 0.9783.

Expected trading range for today is between 0.9810 support and 0.9955 resistance.

Expected trend for today: Bearish