USDCHF approaches from the target – Analysis – 05/06/2017

chf_forexThe USDCHF pair resumed its negative trading strongly after testing 0.9700 in the previous sessions, to approach from our waited target at 0.9578, noting that we suggest witnessing more decline that will extend the bearish wave to reach 0.9347.

Therefore, the bearish bias will be dominant in the upcoming sessions unless breaching 0.9700 level and holding above it, as breaching this level will push the price to test 0.9812 followed by 0.9864 levels before any new attempt to decline.

Expected trading range for today is between 0.9550 support and 0.9700 resistance.

Expected trend for today: Bearish

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Origin: Economies

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