The USD/CHF breaks the support – Analysis – 17/12/2019

chf_forexThe USDCHF pair ended yesterday’s trading below 0.9836 level to activate the bearish trend scenario on the intraday basis, paving the way to head towards 0.9712 as a next negative target.

Therefore, the bearish bias will be suggested for today supported by the negative pressure formed by the EMA50, noting that breaching 0.9836 and holding above it will stop the expected decline and push the price to attempt to recover again.

The expected trading range for today is between 0.9760 support and 0.9870 resistance.

The expected trend for today: Bearish

Origin: Economies

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