USDCHF tests the support – Analysis - 15-03-2018

The USDCHF pair fluctuates at the bullish channel’s support that appears on the chart, noticing that stochastic provides negative signals that we expect to motivate the price to break the current support and activate the negative effect of the bearish flag pattern formed by this channel, followed by pushing the price to continue the decline in the upcoming sessions.

Therefore, we will continue to suggest the bearish trend for today, noting that our first main target is located at 0.9373, which breaking it represents the key to extend the bearish wave towards 0.9300 followed by 0.9186, while holding below 0.9488 represents key condition to continue the expected bearish trend.

Expected trading range for today is between 0.9350 support and 0.9500 resistance.

Expected trend for today: Bearish