USDCHF approaches the target – Analysis - 20-02-2018

The USDCHF pair approached our waited target yesterday, represented by the bearish channel’s resistance that appears on the above chart, noticing that the price faces good resistance at the EMA50, which forms negative pressure that we expect to push the price to resume its main bearish track again.

Therefore, the bearish bias will be suggested in the upcoming sessions, and the waited targets begin at 0.9254 and extend to 0.9035 after breaking the previous level, noting that breaching 0.9330 will stop the expected decline and push the price to continue rising on the intraday basis.

Expected trading range for today is between 0.9200 support and 0.9350 resistance.

Expected trend for today: Bearish