USDCHF within tight track – Analysis – 22/03/2016

dl-1The USDCHF pair continues to fluctuate within tight track settling near 0.9676 level, while the EMA50 keeps pushing negatively on the intraday and short term trading, which keeps the bearish trend scenario valid and active for the upcoming period, waiting to resume the bearish trend that its next target located at 0.9474.

The continuation of the expected bearish wave depends on holding below 0.9800 level, reminding you that breaching this level will stop the expected decline and push the price to attempt to achieve gains that start 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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