The USDCHF pair’s correctional bearish wave extend to reach 1.0240 after breaking 1.0280, as the price finds good support now that we believe it will assist to push the price to resume the main bullish trend again, noting that the recent trades are confined inside a minor bearish channel that we expect to form bullish flag pattern, its resistance line located at 1.0290, which means that breaching this resistance will provide strong positive motive that reinforces the expectations of more rise in the upcoming period.
Therefore, we will keep our bullish overview on the intraday and short term basis, which its next main target located at 1.0625, noting that breaking 1.0240 level will push the price to test areas that reach to 1.0180 before any new attempt to rise.
Expected trading range for today is between 1.0200 support and 1.0340 resistance.
Expected trend for today: Bullish
Origin: Economies
