USDCHF tests the resistance again – Analysis - 15-02-2017

The USDCHF pair provided positive trading yesterday to test the minor bullish channel’s resistance, noticing that the price faces difficulty to breach it, accompanied by the issuance of negative signal by stochastic, which supports the chances for bouncing lower in the upcoming sessions, to head towards 0.9990 levels, then 0.9973 levels initially.

Therefore, we will keep our bearish trend expectations for today unless breaching 1.0100 levels and holding above it, where breaching this level will push the price to achieve more of the gains and testing 1.0157 then 1.0228 mainly.

Expected trading range for today is between 0.9975 support and 1.0100 resistance.

Expected trend for today: Bearish