USDCHF tests the key resistance – Analysis - 16-10-2017

The USDCHF pair continues to fluctuate at the key resistance 0.9770 keeping its stability below this level, as the EMA50 forms negative pressure that prevents the pric from achieving more rise, to support the continuation of the expected bearish trend scenario on the intraday and short term basis, waiting to break 0.9700 level to confirm heading towards our waited targets that reach to 0.9625 followed by 0.9578.

Therefore, we are waiting for negative trading in the upcoming sessions conditioned by the price stability below 0.9770 level.

Expected trading range for today is between 0.9670 support and 0.9800 resistance.

Expected trend for today: Bearish