USDCHF achieves some gains – Analysis – 23/03/2016

forex-news-usd_3The USDCHF pair shows positive trading approaching from the EMA50 that forms negative pressure against the intraday and short term trading, noticing that stochastic loses its positive momentum clearly to enter the overbought areas, which supports the chances of bouncing bearishly to resume the bearish trend.

In general, we continue to suggest the bearish trend in the upcoming period as long as the price is below 0.9800 level, noting that breaking 0.9676 level will push the price towards 0.9474 as a next main target for the current bearish wave.

Expected trading range for today is between 0.9650 support and 0.9800 resistance.

Expected trend for today: Bearish

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Origin: Economies

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