USDCHF reaches the extended target – Analysis - 17-01-2018

The USDCHF pair resumed its negative trading strongly to reach our next waited target at 0.9566, showing some bullish bias now on its way to retest 0.9656 level again, and as long as the price is below this level, the bearish bias will remain dominant for the upcoming period, supported by the EMA50.

Note that breaking 0.9566 will push the price to head towards the previously recorded low at 0.9420 as a next main station, while breaching 0.9656 represents the first positive key to release the price from the current negative pressure.

Expected trading range for today is between 0.9550 support and 0.9680 resistance.

Expected trend for today: Bearish