The USDCHF pair rallied upwards strongly yesterday to cover the losses suffered in the previous sessions, moving near the key resistance 0.9864 now, accompanied by stochastic reach to the overbought areas, which might push the price to rebound bearishly and target the key support areas 0.9578 again.
On the longer term basis, we believe that the sideways range will remain dominant between the above mentioned levels until the price manages to breach one of these levels, noting that breaching 0.9864 will lead the price to extend its gains towards 1.000 as a next main station, while breaking 0.9578 will push trading to target 0.9347 areas direct.
Expected trading range for today is between 0.9700 support and 0.9950 resistance.
Expected trend for today: Sideways
Origin: Economies
