The USDCHF finds solid support – Analysis - 16-07-2019

The USDCHF pair continues to fluctuate near 0.9836 without managing to break it until now, noticing that stochastic shows overbought signals now, which forms negative motive that we expect to assist to push the price to break the mentioned level and open the way to extend the bearish wave on the intraday and short term basis, as the next target is located at 0.9712.

Therefore, our bearish overview will remain valid unless breaching 0.9915 level and holding above it.

The expected trading range for today is between 0.9790 support and 0.9880 resistance.

The expected trend for today: Bearish