USDCHF tests the resistance – Analysis - 15-12-2017

The USDCHF pair tested the key resistance 0.9892 and keeps its stability below it now, as the EMA50 meets this level to add more strength to it, accompanied by witnessing negative overlapping signal through stochastic now.

Therefore, these factors reinforce the continuation of the correctional bearish trend scenario in the upcoming sessions, which its targets begin at 0.9800 and extend to 0.9730 after breaking the previous level, noting that breaching 0.9892 will stop the expected decline and push the price back to the short term bullish track again.

Expected trading range for today is between 0.9800 support and 0.9940 resistance.

Expected trend for today: Bearish