The USDCHF pair bounced sharply to the downside yesterday after attempting to breach 1.0000 level, to reach the key support 0.9800 direct, which breaking it represents the most important factor that confirms stopping the recently suggested bullish wave.
Stochastic offers oversold signals that might assist to push the price to rise again, but the negative pressure provided by the EMA50 contradicts stochastic positive signal.
Therefore, we prefer staying aside temporarily in order to monitor the price behavior according to the next trend keys represented by 0.9800 support and 1.0000 resistance, and the price needs to breach one of them to detect the next destination clearly.
Expected trading range for today is between 0.9700 support and 1.0000 resistance.
Expected trend for today: Neutral
Origin: Economies
