USDCHF surpasses the second target – Analysis - 17-03-2017

The USDCHF pair managed to break 0.9973 level and closed the daily candlestick below it, which opens the way to extend the bearish wave to target the recently recorded low at 0.9859, as the price falls under continuous negative pressure provided by the EMA50, which makes us suggest more decline for today.

Note that the continuation of the expected decline depends on holding below 1.0043, noting that breaching this level will push the price back to the correctional bullish track, to start the positive targets at 1.0100 and might extend to 1.0157.

Expected trading range for today is between 0.9900 support and 1.0000 resistance.

Expected trend for today: Bearish