USDCHF resumes the decline – Analysis - 20-06-2016

The USDCHF pair trading bounced lower after retesting 0.9676 level in the end of the last week, which supports the continuation of our bearish trend expectations in the upcoming period, and the way is open for heading to 0.9474 as a next main target, supported by the negative pressure that the EMA50 keeps providing it.

Holding below 0.9676 level represents an important condition for the continuation of the expected decline, where breaching it represents a positive factor that will lead the price to achieve gains that begin at 0.9800 and extend to 0.9900 on the near term basis.

Expected trading range for today is between 0.9500 support and 0.9700 resistance.

Expected trend for today: Bearish