USDCHF resumes the decline – Analysis - 09-02-2017

The USDCHF pair bounced downwards clearly after testing 0.9996, to approach from 0.9915 level, reminding you that we need to break this level to reinforce the expectations of continuing the bearish trend on the short term basis, as our next target is located at 0.9783.

Therefore, the negative scenario will remain active for today, noting that breaching 0.9996 will stop the expected decline and lead the price to recover and achieve gains that start at 1.0062 and extend to 1.0128.

Expected trading range for today is between 0.9864 support and 0.9996 resistance.

Expected trend for today: Bearish