The USD/CHF under the negative pressure – Analysis – 03/02/2020

chf_forexThe USDCHF pair broke 0.9680 level strongly to head to decline again, on its way to visit 0.9588 level that represents 61.8% Fibonacci correction level for the entire rise from 0.9187 to 1.0237.

Therefore, the negative scenario will be suggested for the upcoming period supported by the EMA50, noting that breaching 0.9712 will stop the expected decline and leads the price to recover again.

The expected trading range for today is between 0.9570 support and 0.9680 resistance.

The expected trend for today: Bearish

Origin: Economies

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