USDCHF fluctuates around the resistance – Analysis - 22-12-2017

Economies.com
2017-12-22 04:58AM UTC

The USDCHF pair provided positive trades yesterday to test the key resistance 0.9892, witnessing signs of triple top pattern now, and the price needs to break 0.9840 level to confirm activating the negative effect of this pattern followed by resuming the correctional bearish trend.

 

Until now, we will continue to suggest the bearish trend on the intraday basis as long as 0.9892 level remains intact, noting that stochastic negativity supports the chances of resuming the bearish bias in the upcoming sessions, to start the main targets at 0.9800 and extend to 0.9730.

 

Expected trading range for today is between 0.9800 support and 0.9940 resistance.

 

Expected trend for today: Bearish

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