USDCHF tests the resistance – Analysis - 05-12-2017

The USDCHF pair tested the correctional bearish channel's resistance that appears on the chart and kept its stability below it, accompanied by witnessing clear negative signals through stochastic, which supprots the chances of bouncing bearishly to resume the bearish bias in the upcoming sessions, waiting to test 0.9800 level.

Therefore, we suggest witnessing negative trading on the intraday and short term basis, and breaking 0.9800 will push the price to head towards 0.9730 direct, while the expected decline will remain valid unless the price managed to breach 0.9892 and hold with a daily close above it.

Expected trading range for today is between 0.9750 support and 0.9900 resistance.

Expected trend for today: Bearish