The USDCHF pair’s recent trading is confined between 23.6% Fibonacci level at 0.9863 and 38.2% level at 0.9577 for the bullish wave measured from 0.8367 to 1.0326, which hints that the price needs to breach one of these levels to detect its next targets clearly on the short term basis.
Therefore, we expect the domination of the sideways range on the upcoming trading until the price manages to breach one of the above mentioned levels, noting that breaching 0.9863 level will open the way to regain the medium term bullish trend, which its next main target located at 1.0326, while breaking 0.9577 support represents the key to extend the correctional bearish wave to target 0.9346 areas direct.
Expected trading range for today is between 0.9650 support and 0.9800 resistance.
Expected trend for today: Sideways
Origin: Economies
