USDCHF tests the resistance – Analysis - 02-02-2017

The USDCHF pair tested the bearish channel's resistance that appears on chart, and the EMA50 formed negative pressure that stopped the price positive attempts, to push trading to decline again, as it moves below 0.9915, which hints that the negative pressure still valid, waiting to resume the bearish trend on the intraday and short term basis, which its targets begin at 0.9864 and extend to 0.9783.

Therefore, the bearish trend will remain dominant in the upcoming sessions conditioned by the price stability below 0.9915 and the most important below 0.9996.

Expected trading range for today is between 0.9810 support and 0.9955 resistance.

Expected trend for today: Bearish