USDCHF surpasses the target – Analysis - 16-02-2018

The USDCHF pair succeeded to achieve our waited target at 0.9254, noticing that the price surpassed this level and settled with a daily close below it, which confirms opening the way to achieve more negative targets, waiting to head towards 0.9035 that represents our next main target.

Therefore, the bearish trend will remain dominant on the intraday and short term basis, noting that breaching 0.9254 might push the price to start recovery attempts that target 0.9370 areas initially before any new attempt to decline.

Expected trading range for today is between 0.9100 support and 0.9254 resistance.

Expected trend for today: Bearish