USDCHF loses momentum – Analysis – 21/03/2016

Dollar1The USDCHF pair shows sideways trading fluctuating around 0.9676 level, noticing that stochastic loses its positive momentum gradually heading towards the oversold areas, to provide negative motive that we are waiting to assist to push the price to resume the main bearish trend, which its next target located at 0.9473.

We remind you that holding below 0.9800 level is considered as a major condition to continue the suggested decline, as breaching this level represents the first key to the attempts of regaining the bullish trend that its positive targets begin at 1.0000 and extend to 1.0330.

Expected trading range for today is between 0.9600 support and 0.9750 resistance.

Expected trend for today: Bearish

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Origin: Economies

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