The USDCHF pair ended yesterday’s trading below 0.9900 level, which might put the price under negative pressure and a potential test to 0.9800 level before turning back to resume the bullish trend, as the price completed forming a minor bearish pattern shown on the minor image, besides the negative pressure provided by the EMA50.
In general, the main bullish trend still valid and active on the short term basis, it might be preceded by some temporary decline affected by the above mentioned negative signals, and the price needs to breach 0.9900 level to ease the mission of heading towards our main targets that begin at 1.0000 and extend to 1.0130, being aware that the continuation of the bullish trend depends on holding above 0.9800 level.
Expected trading range for today is between 0.9800 support and 1.0000 resistance.
Expected trend for today: Bullish
Origin: economies.com
