The USDCHF pair approached our extended target at 1.0170, but it bounced downwards strongly to achieve some bearish correction for the bullish wave that start from 0.9480 areas, as it settles around 23.6% Fibonacci correction level that meets the bullish channel’s support line that appears on the chart, accompanied by stochastic reach to the oversold areas.
Therefore, these factors encourage us to suggest the bullish bias today, and the targets begin at 1.0100 and extend to 1.0170, noting that breaking 0.9980 will press on the price to achieve additional bearish correction that its next target reaches 0.9890.
The expected trading range for today is between 0.9940 support and 1.0090 resistance.
The expected trend for today: Bullish
Origin: Economies
