USDCHF gets a negative signal – Analysis - 06-12-2017

The USDCHF pair surpassed the correctional bearish channel's resistance yesterday to test the most important resistance at 0.9892, as the price keeps its stability below this level until now, which keeps the bearish trend scenario valid until now, supported by the negative overlapping signal that stochastic begins to provide now.

Therefore, we will continue to suggest the bearish trend in the upcoming sessions, and the first target is represented by breaking 0.9800 level to confirm extending the bearish wave towards 0.9730, noting that breaching 0.9892 will stop the current correctional bearish scenario and lead the price to return to the main bullish trend again.

Expected trading range for today is between 0.9770 support and 0.9900 resistance.

Expected trend for today: Bearish