USDCHF below the resistance – Analysis – 23.08.2016

chf_forexThe USDCHF pair keeps its stability below 0.9634 level, which is met by the EMA50 to add more strength to it, which keeps the negative pressure valid until now, waiting to resume the main bearish trend that its next target located at the previously recorded low at 0.9442.

Carefully note that breaching 0.9634 level will complete positive technical formation that has the ability to push the price to visit 0.9752 direct before any new attempt to decline.

Expected trading range for today is between 0.9500 support and 0.9700 resistance.

Expected trend for today: Bearish

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Origin: Economies

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