USDCHF under the negative pressure – Analysis - 19-12-2017

The USDCHF pair traded with clear negativity yesterday to break 0.9892 level and settles below it, which stops the recently suggested positive scenario and put the price within the correctional bearish track again, noting that there is a bearish pattern that its signs appear on the chart, which means that breaking its neckline at 0.9840 will extend the pair's losses to surpass 0.9800 and reach 0.9730 as a next station.

Therefore, we expect the domination of the bearish trend in the upcoming sessions unless the price managed to breach 0.9892 level and hold with a daily close above it.

Expected trading range for today is between 0.9770 support and 0.9900 resistance.

Expected trend for today: Bearish