USDCHF faces solid resistance – Analysis - 14-02-2017

The USDCHF pair finds difficulty to breach 1.0062 level, showing bearish bias now, in a signal to head towards resuming the bearish wave, especially that stochastic provides clear negative signals on the four hours time frame.

Therefore, the bearish bias will be preferred in the upcoming sessions, and the targets begin by testing 0.9996 then 0.9975 levels, pointing that breaking these levels will confirm the extension of the bearish wave to 0.9915 then 0.9864, while the expected bearish trend will remain valid unless breaching 1.0062 level and holding above it.

Expected trading range for today is between 0.9975 support and 1.0070 resistance.

Expected trend for today: Bearish