The USDCHF pair rallied upwards strongly yesterday to breach 1.0075 and 1.0095 levels and reach the key resistance at 1.0190, which represents the sideways range resistance that appears on chart, which brings back the domination of the sideways move on the intraday trading until the price manages to breach one of this range’s lines represented by 1.0075 support and 1.0190 resistance.
Stochastic current negativity might push the price to decline in the upcoming sessions to visit the above mentioned support, while in general, we should note that breaching 1.0190 level will lead the price to regain the main bullish trend that was stopped recently for some temporary bearish correction, and the next main target is located at 1.0326, while breaking 1.0075 level represents the key to return to the correctional bearish track that its targets begin at 1.0005 and extend to 0.9894.
Expected trading range for today is between 1.0075 support and 1.0250 resistance.
Expected trend for today: Sideways
Origin: Economies
