USDCHF activates the negative pattern – Analysis - 22-03-2017

The USDCHF pair succeeded to break the bullish wedge’s support that we mentioned yesterday, to decline clearly moving away from 0.9973 level, which supports the continuation of our bearish trend expectations efficiently in the upcoming sessions, waiting for heading to the recently recorded bottom at 0.9859 as a next main station.

Therefore, the bearish bias will remain preferred for today, being aware that the continuation of the expected decline depends on the stability below 1.0020- 1.0043 levels.

Expected trading range for today is between 0.9859 support and 0.9973 resistance.

Expected trend for today: Bearish