USDCHF reaches the first target – Analysis - 14-08-2017

The USDCHF pair reached our first waited target at 0.9578 and shows some bullish bias now to approach from the EMA50 that forms negative pressure against the intraday trading, accompanied by stochastic reach to the overbought areas, to provide negative factor that we expet to push the price to decline again in the upcoming sessions.

Therefore, we will continue to suggest the bearish trend on the intraday basis unless we witnessed clear breach to 0.9700 level and holding above it, reminding you that our extended target that reaches 0.9430 after breaking 0.9578 level.

Expected trading range for today is between 0.9540 support and 0.9700 resistance.

Expected trend for today: Bearish