USDCHF faces solid resistance – Analysis - 11-01-2018

The USDCHF pair failed to braech the resistance barriers that appear on the above chart, to rebound bearishly and settles below 0.9800 again, which puts the price under the correctional bearish pressure that its next target located at 0.9730, which makes the bearish trend suggested for the upcoming sessions.

We should note that breaking the targeted level will extend the bearish wave to reach 0.9656 as a next station, while breaching 0.9800 followed by 0.9840 levels represent the key to stop the current negative pressure and return to the short term bullish trend.

Expected trading range for today is between 0.9730 support and 0.9840 resistance.

Expected trend for today: Bearish