USDCHF completes negative formation – Analysis – 29/03/2016

forex-news-usd_1The USDCHF pair broke the minor bullish channel’s support that appears on image, which forms bearish continuation flag pattern that we are waiting to motivate the price to resume the bearish bias in the upcoming period, and the next target is testing the key support 0.9676.

Therefore, we will continue to suggest the bearish bias on the intraday and short term basis, and breaking 0.9676 level will confirm extending the bearish wave towards 0.9474, while the negative scenario will remain valid unless breaching 0.9800 level and holding above it.

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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