USDCHF under the negative pressure – Analysis - 13-04-2017

The USDCHF pair failed to confirm breaching 1.0070 level yesterday, to rebound downwards strongly and begin pushing on the key support 1.0010, which hints the price return to resume the bearish wave on the short term basis, noting that getting a four hours' candlestick close below the last level will confirm extending the bearish wave for the rest of the day.

Therefore, the bearish bias will remain suggested in the upcoming period unless breaching 1.0070 level and holding above it, noting that our next main target is located at 0.9935.

Expected trading range for today is between 0.9935 support and 1.0070 resistance.

Expected trend for today: Bearish