The USDCHF pair shows sideways trading settling around 0.9640 level, and by taking a deeper look at the chart, we find that the price drew double bottom pattern that appears on the minor image, this pattern’s confirmation line is located at 0.9655, thus, breaching this level will turn the intraday track to the upside and stop the recently suggested negative scenario.
Stochastic begins to overlap positively to form motive that we expect to assist to push the price to complete the mentioned pattern, therefore, we expect the domination of the bullish trend on the upcoming trading, and the targets begin at 0.9735 and extend to 0.9800, taking into consideration that breaking 0.9615 level will cancel the suggested positive formation and push the price to decline again.
Expected trading range for today is between 0.9570 support and 0.9735 resistance.
Expected trend for today: Bullish
Origin: Economies
