USDCHF resumes the decline – Analysis – 31/05/2017

chf_forexThe USDCHF pair bounced clearly downwards after approaching from retesting 0.9812 level yesterday, which supports the continuation of our bearish overview efficiently in the upcoming period, waiting to break 0.9700 level to reinforce the expectations of targeting 0.9578 level as a next main station.

The EMA50 forms negative pressure now that supports the suggested decline, which will remain valid unless breaching 0.9812 then 0.9864 levels and hold above them.

Expected trading range for today is between 0.9650 support and 0.9812 resistance.

Expected trend for today: Bearish

tg1

Origin: Economies

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