USDCHF attmepts positively – Analysis - 18-10-2017

The USDCHF pair provided positive trading yesterday to breach 0.9770 level and settles above it, but we notice that the price faced the bearish trend line that appears on chart, forming key resistance at 0.9815, accompanied by witnessing clear negative signals through stochastic.

Therefore, these factors encourage us to continue suggesting the bearish trend in the upcoming period, which its targets begin by breaking 0.9700 to open the way to head towards 0.9625 followed by 0.9578 levels, noting that breaching 0.9815 will stop the expected decline and turn the short term track to rise.

Expected trading range for today is between 0.9700 support and 0.9815 resistance.

Expected trend for today: Bearish