USD/CHF faces solid resistance – Analysis – 07/11/2018

forex-news-usd_dollarThe USDCHF price finds difficulty to breach 1.0055 level, to rebound downwards clearly and approach testing key support line located at 0.9970, which urges caution from the upcoming trading, as breaking this support will turn the intraday track to decline towards 0.9850 areas mainly, while breaching the resistance will push the price to continue the bullish trend on the short term basis, which its next targets located at 1.0105 followed by 1.0170.

Therefore, we prefer staying aside temporarily until the price confirms breaching one of the above mentioned key levels.

Expected trading range for today is between 0.9930 support and 1.0070 resistance.

Expected trend for today: Depends on the above mentioned levels

USDCHF faces solid resistance – Analysis - 07-11-2018

Origin: Economies

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