USDCHF reaches the extended target – Analysis - 25-01-2018

The USDCHF pair succeeded to reach our waited target at 0.9418 and settles there now, falling under strong negative pressure that makes us suggest the continuation of the bearish trend domination for the upcoming period, noting that confirming breaking this level will extend the pair’s losses to reach 0.9250 as a next station.

Therefore, the bearish trend will remain expected on the intraday and short term basis unless the price managed to breach 0.9564 and hold above it.

Expected trading range for today is between 0.9340 support and 0.9500 resistance.

Expected trend for today: Bearish