USDCHF tests the resistance – Analysis - 18-01-2018
Economies.com
2018-01-18 05:56AM UTC
The USDCHF pair traded with clear positivity yesterday to test the key resistance 0.9656 and keeps its stability below it until now, accompanied by stochastic reach to the overbought areas, while the EMA50 forms continuous negative pressure against the price.
Therefore, our bearish overview will remain valid until now, and breaking 0.9566 will confirm opening the way to head towards 0.9420 that represents our next main target, noting that breaching 0.9656 will motivate the price to stop the current negative pressure and return to rise again.
Expected trading range for today is between 0.9550 support and 0.9680 resistance.
Expected trend for today: Bearish
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