USDCHF tests the resistance again – Analysis - 07-02-2017
Economies.com
2017-02-07 05:18AM UTC
The USDCHF pair shows bullish bias now to approach from testing the bearish correctional resistance, which meets with the EMA50 to strengthen it, waiting for bouncing lower to resume the main bearish trend that its next target located at 0.9783.
Therefore, the bearish trend scenario will remain active in the upcoming period unless breaching 0.9965 then 0.9996 levels and holding above them, which will push the price to recovery attempts that its targets begin at 1.0062 and extend to 1.0128.
Expected trading range for today is between 0.9864 support and 0.9996 resistance.
Expected trend for today: Bearish
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