USDCHF tests the key resistance – Forecast – 04/07/2017

chf_forexThe USDCHF pair continued its positive trading yesterday to test the EMA50 that forms key resistance at 0.9640, accompanied by witnessing clear overbought areas on stochastic, which supports the chances of bouncing bearishly to resume the bearish trend in the upcoming sessions, waiting to break 0.9578 to confirm heading towards our next target at 0.9347.

We remind you that breaching 0.9640 will push the price to achieve more gains that reach to 0.9700 and might extend to 0.9812.

Expected trading range for today is between 0.9550 support and 0.9680 resistance.

Expected trend for today: Bearish

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Origin: Economies

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