USDCHF faces negative factors – Analysis - 26-02-2018

The USDCHF pair found solid resistance at 0.9373 and failed to confirm breaching it, to show some bearish bias now affected by the negative signal that appears on stochastic, which hints the price facing potential negative pressure in the upcoming sessions and the difficulty of continuing the recently suggested rise.

Therefore, we expect witnessing more decline for today, noting that breaking 0.9320 will reinforce the expectations of continuing the bearish bias that its targets begin at 0.9230 followed by 0.9186, taking into consideration that breaching 0.9373 and holding above it will push the price to resume the correctional bullish track that its next target located at 0.9488.

Expected trading range for today is between 0.9260 support and 0.9400 resistance.

Expected trend for today: Bearish